Bitcoin (BTC) price is consolidating but maintaining an ascending trend, indicating the growing dominance of the bulls

While the market participants expect a strong rally for the rest of 2025, the chart patterns indicate a huge retracement could be underway

Bitcoin price has been consolidating in a pivotal range, which could be crucial for the next leg of the trend.

While the market participants are expecting a strong rally for the rest of 2025, the chart patterns suggest a huge retracement could be underway.

Bitcoin price has been consolidating above a crucial range, and the recent price action has been quite interesting. The BTC price bounced back from the lower support at $75,000 in mid-2024 and encountered resistance at $96,200 in early 2025.

After breaking from the wedge, the BTC price reached an important resistance zone, and despite a decent upward pressure, it has remained within the zone. However, the price failed to test the 0.618 FIB at $96,200, which has now become a threshold to achieve. On the other hand, MACD shows a drop in selling pressure, and the levels are heading towards a bearish crossover.

This may raise alarms, as a drop below the POC zone between $94,000 and $94,675 may bring back the levels close to 0.5 FIB at $92,062. As long as Bitcoin is below 0.618 FIB and the POC on the volume profile, Bitcoin continues to remain in a bear market. Moreover, a Fair Value Gap has been formed around $87,000, which could be filled in the coming days. Hence, the market participants need to be vigilant as the Bitcoin (BTC) price volatility is expected to kick off during the monthly close.