Bitcoin BTC/USD is hovering around the $106,000 mark, sparking both bullish and cautious sentiment among traders. While some anticipate further upside, others are treating this zone as a local range to play both sides.

What Happened: Crypto trader Astronomer shared his game plan on X, outlining a dual strategy based on Bitcoin's movement between $103,000 and $107,000.

The Setup:

• Bullish Scenario: If BTC dips to $103,000—aligning with weekend lows and weak structural zones—and forms a strong setup (like a low timeframe range sweep, three drives pattern, or market maker divergence (MMD) with ETH), he plans to go long.
• Bearish Scenario: If BTC tags $107,000 and reacts bearishly at a point of interest, he's prepared to short using a similar technical setup. The market currently shows indecision: flat funding, balanced delta, and slow low timeframe action following a big move. The trader is also watching altcoins closely, expecting continued BTC dominance (BTC.D) distribution before a broader move in alts.

Also Read: Bitcoin, Ethereum, XRP, Dogecoin Edge Higher As Traders Maintain Bullish Outlook

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Why It Matters: Crypto chart analyst Ali Martinez noted that some of biggest Bitcoin whales purchased more than 30,000 BTC in the last 96 hours.

Onchain Lens highlighted that BlackRock deposited 1,249.7 BTC, worth $131.55 million, into Coinbase and over the last two days it has deposited 5,362.4 million BTC, worth $560.9 million. It also withdrew 27,241.4 ETH, worth $69.25 million from Coinbase.

IntoTheBlock data shows Bitcoin's large transaction volume and daily active addresses increased by 72.1% and 12.09%, respectively. Transactions greater than $100,000 went up from 7,642 to 11,499.

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• Ethereum Up 3%: Can It Outperform Bitcoin From Here On?

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