After the collapse on Friday the 10th, the situation on $BTC has frozen and fear still dominates.

This is reflected in a hesitant market, currently compressed between the local low (108k) and the resistance of 115k. Often these days both 108 and 115 have been tested, both well defended by supply and demand.

The first step to change the short-term structure is to break this balance:

- Upward if we break 115 (target 117.5 and 119.3)

- Downward if we lose 108 (also a medium-term breakdown, continues prolonged retracement), target area 100k.

The bull case remains the absorption of the origin dump, namely 121.7k.

Source: The Crypto Gateway #CryptoMarketAnalysis