Bitcoin's seven-day consolidation above the 102,698 level appears to be coming to an end. We await the final confirmation from the Marlin oscillator, which needs to bounce off the lower boundary of its ascending channel.
The next growth target is 111,770. A move even higher toward 114,511—the price channel line—is also possible.
On the four-hour chart, the price has consolidated above the 102,698 level after several lower shadow dips below it. Currently, Bitcoin is battling resistance from the balance line.
The Marlin oscillator is preparing to enter positive territory, confirming the end of the consolidation phase. We expect Bitcoin to reach new historical highs.
