Bitcoin on the brink: awaiting a breakout or a pullback down

At the moment, the cryptocurrency market is in a state of uncertainty, and particular attention is focused on the behavior of Bitcoin (BTC). We are observing a clear price consolidation, characteristic of sideways movement (flat), in which BTC has been stuck for the last trading sessions.
Current market picture

The chart shows that BTC is trading at the upper boundary of the sideways channel that has formed in recent weeks. This is a key resistance level, and the further price behavior will largely depend on whether Bitcoin can break this level upwards, or if a pullback down will follow.

Upon a breakout upwards: if the price overcomes resistance with volume and consolidates above, one can expect a continuation of the upward movement. This may provoke a wave of buying and movement toward new local highs.

During the pullback from resistance: if BTC fails to break the upper boundary of the channel, there is a high probability of a downward movement towards the lower boundary of the current range. This will confirm the scenario of consolidation and a possible local decline.

Technical signals

Trading volumes remain moderate, indicating a lack of clear momentum from either bulls or bears.

The RSI and MACD indicators are in the neutral zone, but with potential for a downward reversal if a pullback occurs from resistance.

Support is located near the lower boundary of the current range, providing a reference for a potential pullback in case of a reversal. #BTC