In the fevered dreams of the cryptocurrency realm, Bitcoin stumbles through a purgatorial consolidation phase, its price oscillating between two spectral ranges as if haunted by the ghosts of greed and fear. The market, once ablaze with manic fervor, now simmers with the tepid resignation of a man who has burned his bridges and forgotten the address of the next one. The recent retreat to the 100-day moving average-ah, that sacred $116K zone-has left traders clutching their wallets like a drunkard clutches his last bottle, whispering prayers to the almighty RSI.
BTC Price Technical Analysis
By Shayan, the prophet of candlesticks 🕯️
The Daily Chart
BTC, that fickle lover of chaos, has returned to retest the 100-day moving average-a crumpled note from a former flame. The $116K zone, where price now cowers, sits precariously above the $107K-$109K demand zone, a fortress of hope built on sand. The rejection at $124K-$125K was not a mere stumble but a drunken collapse, a liquidity sweep that left the market gasping for air. Yet, the $108K range clings to life like a leech to a drowning man, while the 200-day MA looms below, a grim reaper with a calculator. For now, BTC is trapped between these two MAs, a prisoner of its own volatility. Breakout? Breakdown? The answer lies in the hands of those who dare to trade-or to pray.
The 4-Hour Chart
On the 4-hour chart, Bitcoin dances a macabre waltz between $116K and $109K, a tightrope walker blindfolded and drunk. The $116K resistance, a mirror of past hubris, and the $109K demand zone, a relic of fleeting optimism, form a cage of contradictions. Buyers lurk in the shadows of $109K-$110K, their pockets heavy with promises they cannot keep. A close above $116K might summon the bullish spirits, but a fall below $108K would plunge the market into a bearish purgatory. Until then, traders shuffle like pawns in a chess game played by drunkards-each move a gamble, each second a test of faith. 🎲
On-chain Analysis
By Shayan, the bard of blockchain 📜
The 3-day Binance liquidation heatmap reveals a liquidity pocket between $115K and $118K, a treasure trove of short liquidations waiting to be plundered. Below, the $108K-$110K range whispers of weak defenses, a battlefield already scarred by last week’s carnage. This is no mere chart-it is a warzone where hope and despair duel with the precision of a drunkard’s sword. The heatmap, a siren’s song, hints that Bitcoin will continue its masochistic dance within the $109K-$116K corridor until one side of the range surrenders to the inevitable. And when it does? Expect a breakout so dramatic, even Dostoevsky would weep. 🎭
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2025-10-14 14:29