Bitcoin Price Analysis: BTC Battles Key Resistance on Path to New ATH

Bitcoin is consolidating just around the $114K level after weeks of volatility, with price action showing mixed signals across ￰0￱ daily chart suggests momentum is fading, while the 4-hour chart highlights a tightening structure near resistance. Meanwhile, on-chain data continues to point to structural ￰1￱ Analysis By Shayan The Daily Chart On the daily chart, Bitcoin has broken out of its rising channel but is now struggling to reclaim higher ￰2￱ asset is hovering around $114K, just below the 100-day moving average, which is acting as ￰3￱ RSI sits around 50, reflecting a neutral momentum state, neither oversold nor ￰4￱ bulls can close above the moving average, the next target will be the $124K all-time high zone.

However, repeated failures here could drag the market lower, with the $104K fair value gap serving as the key demand area supported by the 200-day moving average around $101K. This zone would be the last line of defense before a deeper ￰5￱ 4-Hour Chart The 4-hour chart shows price consolidating inside a tightening ascending triangle, with higher lows forming around $110K and the key resistance capped at $114K. The RSI at 55 also suggests momentum is slightly in favor of buyers, but the breakout is not yet ￰6￱ buyers manage to push above $114K with volume, a rally toward $118K–$120K could unfold ￰7￱ the downside, losing the ascending trendline and or the $110K support zone would weaken the bullish structure and open the way back to $104K.

For now, the short-term bias depends on how the price reacts at the $114K ￰8￱ Analysis Exchange Reserve Exchange reserves continue to decline sharply, falling to multi-year ￰9￱ persistent outflow, which is quite odd for BTC being at all-time highs, indicates that investors are moving coins into long-term storage, reducing the liquid supply available for ￰10￱ a supply contraction often supports price stability and sets the stage for bullish moves when demand increases. However, in the short term, declining reserves also mean thinner liquidity on ￰11￱ can amplify volatility around key levels, making breakouts and breakdowns sharper. Overall, the reserve trend reinforces the long-term bullish case but doesn’t eliminate the near-term risk of corrections if buyers fail to reclaim resistance.