Bitcoin’s Bullish Structure Holds, Even If Price Falls 15%

Key Insights:

• Bitcoin maintains higher highs and higher lows despite short-term pullbacks in current price action.
• Liquidity clusters near $98K and $108K could trigger fast moves if either zone breaks soon.
• Traders watch for Sunday CME gaps and early-week reversals as a repeating pattern emerges.

Bitcoin continues to trade within a long-term uptrend, despite recent price movement. At the time of writing, the price stands at $102,949, down 1.86% over the last 24 hours and nearly unchanged across the past week.

Price Structure Remains Intact

Since early 2023, Bitcoin has shown a pattern of higher highs and higher lows. This structure has repeated across multiple phases, with each move up followed by a period of sideways trading and then another push higher.

Analyst Cas Abbé noted that the current structure would still hold even if Bitcoin pulled back by 10% to 15%. “BTC could drop another 10%-15% and it’ll still look good,” he said. With the last higher low well below current levels, the broader trend is still in place.

Liquidity Zones May Trigger Sharp Moves

A chart shared by Daan Crypto Trades highlights areas of liquidity around current price levels. A dense cluster sits between $98,000 and $100,000, below recent lows. If price moves into this range, it could trigger forced selling and a quick move lower.

On the upside, there is another cluster around $107,000 to $108,000. This area was previously supported and now acts as resistance. A move through this zone could squeeze short positions and drive prices higher. “Whichever breaks first could cause a bit of a squeeze,” Daan noted.

Weekly Pattern Gains Attention

Recent trading activity shows consistent strength on Sundays, with average returns over 2%. Mondays and Thursdays also post gains more often than not, while Tuesdays and Wednesdays tend to lean negative.

Ted pointed out a pattern forming around the weekend. “Long $BTC on Sunday, and short it at Monday’s high,” he said. He explained that Sunday price gaps on the CME Bitcoin Futures often get filled within the first few days of the week. Traders appear to be watching this setup closely.

Current Outlook

Despite recent price swings, Bitcoin has not broken its higher low structure. The long-term trend remains upward unless that changes. For now, price is trading between key levels, and traders are waiting to see which side gives way first.