{"id":26228,"date":"2025-05-11T19:31:49","date_gmt":"2025-05-11T19:31:49","guid":{"rendered":"https:\/\/dogewisperer.com\/bitcoin-returns-to-consolidation-phase-ahead-of-projected-surge-to-106k-110k-range\/"},"modified":"2025-05-11T19:31:49","modified_gmt":"2025-05-11T19:31:49","slug":"bitcoin-returns-to-consolidation-phase-ahead-of-projected-surge-to-106k-110k-range","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=26228","title":{"rendered":"Bitcoin Returns To Consolidation Phase Ahead Of Projected Surge To $106K-$110K Range"},"content":{"rendered":"
\n

After an explosive breakout that took Bitcoin beyond the $100,000 mark, the price action has now settled into a familiar yet strategic rhythm of consolidation<\/a>. As of today, Bitcoin is trading around $103,000, and technical analysis shows that this phase could be the calm before another significant push toward the $106,000 to $110,000 range. <\/p>\n

According to RLinda, a crypto analyst on TradingView, the recent consolidation is not a sign of exhaustion but rather a strategic regrouping for the next leg up.<\/a><\/p>\n

Bitcoin Price Consolidation Between Key Levels Building Momentum<\/b><\/h2>\n

Bitcoin\u2019s rally from the $97,860 breakout zone to the $104,300 resistance area marked a clear distribution phase, and now the price is hovering between $104,300 and $102,300. It is easy to see that the price rally slowed down massively in the past 48 hours. <\/p>\n

However, crypto analyst RLinda noted that<\/a> this range-bound movement is a positive development, pointing to bullish continuation rather than weakness. A rebound from the lower end of this zone, particularly from $103,300, $102,300, or even as low as $101,700, could act as a springboard for a breakout attempt above $104,300.<\/p>\n

Notably, the analyst highlighted that this third retest failed to push the price back up to resistance, leading to a local drop instead. However, the resulting breach of $103,336<\/a> shows that the underlying strength is still intact. Should Bitcoin retest $103,600 successfully and bounce off the liquidity zone between $102,700 and $102,300, the leading cryptocurrency could make another attempt at breaking through the $104,300 resistance.\u00a0<\/p>\n

If this plays out, the next leg could reach up to $106,000 or even $107,000, and from there, further momentum could drive the price above its current all-time high of $108,786 up until $110,000 before the end of May. Price targets beyond this level range from $120,000 to $180,000<\/a> before the end of the year.<\/p>\n

\"\"<\/p>\n

Chart Image <\/i>From TradingView: <\/i><\/a>RLinda<\/i><\/p>\n

On-Chain Signals Reinforce Bullish Outlook<\/b><\/h2>\n

This short-term consolidation is not occurring in isolation with selling pressure<\/a>. Notably, on-chain data and market sentiment support Bitcoin\u2019s upward path for the rest of the month.\u00a0<\/p>\n

According to crypto analyst Ali Martinez, more than 110,000 BTC have been withdrawn from centralized exchanges over the past month. As illustrated in the CryptoQuant chart below,<\/a> this has caused the total Bitcoin reserve on crypto exchanges to drop from 2.57 million BTC to 2.45 million BTC. <\/p>\n

<\/p>\n

This is a sign that investors are moving their holdings into cold storage or preparing for long-term hold, which reduces immediate selling pressure<\/a> and supports upward price action.<\/p>\n

\"\"<\/p>\n

Chart <\/i>Image From X: @ali_charts<\/i><\/a><\/p>\n

Right now, the most important support levels to watch are $103,300, $102,300, and $101,700, while the resistance levels to new all-time highs are $104,300 and $108,786.<\/p>\n

At the time of writing, Bitcoin was trading at $103,670.\u00a0<\/p>\n

Featured image from Unsplash, chart from TradingView<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

After an explosive breakout that took Bitcoin beyond the $100,000 mark, the price action has now settled into a familiar yet strategic rhythm of consolidation. As of today, Bitcoin is trading around $103,000, and technical analysis shows that this phase could be the calm before another significant push toward the $106,000 to $110,000 range. According […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-26228","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/26228","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26228"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/26228\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26228"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26228"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26228"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}