- Bitcoin stays near $105K as buyers enter at fair value levels with no sign of fear
- The RSI remains close to 71, which shows demand is still present but not overheated.
- Support areas from $84K to $89K continue to provide strength to the current price trend.
Bitcoin is trading at $105,302 at press time, following a brief intraday pullback of 0.30% from the session high of $106,851. Market data from TradingView and CryptoQuant confirm that momentum remains firmly in bullish territory. Signals continue to point to further upside potential rather than exhaustion or exit behavior, in line with recent on-chain analysis shared by CryptoQuant on X.
Phase-Based Growth Indicates Healthy Bull Market Structure
Analyst @avocado_onchain shared a chart on X dividing Bitcoin’s trend into three phases that outline a controlled, yet strong, market advance. In Phase 1, which began in early 2024, BTC rallied sharply from approximately $74,000, supported by a Binance funding rate spike exceeding 0.045 and a taker buy volume that surged past 15 billion, a clear indication of speculative momentum met with continued demand and without immediate collapse.
During Phase 2, the price entered a period of horizontal consolidation, but instead of declining, it maintained composure despite another peak in the funding rate. Taker buy volume gradually declined toward 9 billion, yet held above an ascending support line, showing a phase of market digestion rather than fatigue or panic exits — a classic sign of stability beneath the surface.
At Phase 3, BTC is climbing, and the funding rate of 0.01 implies that traders are entering the market conservatively, while 7.8 billion in taker buy volume continues to grow. The fact that the moving average is steadily rising, as supported by the yellow line, means this rally is real because people are actually buying bitcoins instead of just betting or feeling excitement.
Fair Value Gaps and Fibonacci Levels Define Support Map
Bitcoin’s bullish posture is supported further through a price action chart extracted from TradingView, showing the token carving out a double bottom near $74,588 before entering a vertical climb defined by clean fair value gaps and Fibonacci retracement levels. Key FVG zones formed near $87,000 and just below $100,000 have consistently acted as springboards on minor dips, each met with buying pressure marked by clear upward reactions and green arrows along the price channel.
When prices retreat, Fibonacci levels usually make buyers appear at 0.382 ($89,968), 0.5 ($87,031), and 0.618 ($84,095). Not far below that, further support is noticeable at 0.786 ($79,914), with the biggest support at $74,588 also ready, though they are inactive until prices drop a lot. The RSI reads 70.91, passing the overbought mark yet not showing signs of immediate turning points and indicating that the uptrend may soon face resistance, but is still technically strong.
Related: Bitcoin Clears $93K as Short Sellers Face Heavy Liquidation
Is Bitcoin’s Rally Truly Sustainable Without Leverage Risk?
With the current technical landscape — including RSI positioning, solid fair value support zones, and increasing spot demand — echoing CryptoQuant’s assertion that Bitcoin’s bull market is “not yet overheated,” the big question arises: Is this rally genuinely sustainable without the aid of heavy leverage, or are signs of euphoria quietly forming beneath the surface?
