Bitcoin Battles Within A Range: Here Are The Trading Levels

Bitcoin remains in a trading range between the all-time high of $108,000-$109,000 and $91,000-$92,000.

During this period, Strategy (MSTR), formally known as MicroStategy has been buying billions of Bitcoin. This is a concern as to the inability for Bitcoin to break higher during this major buying spree by Michael Saylor.

It has also been a period where the stock market remains near all-time highs, though the stock market has also stalled its constant grind higher, chopping sideways.

Based on technical analysis, Bitcoin has resistance at $108,000-$109,000. Should that break, the next level is $114,000.

Support for Bitcoin remains at $91,000-$92,000. Should that level break, there is no major chart support until $74,000.

The biggest issue for Bitcoin remains the potential for a risk-off event in the stock market. If that happens, Bitcoin is likely to tumble lower in the near-term.