Key Takeaways:
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The price of Bitcoin is combined as a resistance to $ 105,000 preventing the rally on new all-time highs.
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Entrepreneurs are slightly bearish, but historical data suggests that a sudden uprising should not be ruled out.
Bitcoin (Btc) The price is combined -included within an approximately $ 3,500 range in the past seven days as the $ 105,000 level remains overhead resistance to break.
Bitcoin could not cracked $ 105,000
Data from Cointelegraph Markets Pro And Bitstamp shows that the price of BTC has been oscillating between its resistance level at $ 105,000 and $ 101,500, where support is found.
“$ BTC is stuck to a narrow $ 101.5k- $ 104K range,” Says Swissblock on a May 16 post on X.
The Onchain Data Provider said Bitcoin’s integration began After two failed attempts to break above the resistance to $ 105,000.
“In the future on the weekend, the resolution is likely to be delayed, unless we get a break on Friday.”
For the Intelligence Firm Santiment firm, the failure to grow after a $ 105,00 level has seen entrepreneurs slightly summarize.
“Markets generally tend to move opposite the expectations of the majority, suggesting that there is a higher likelihood of crypto markets rising due to increasing this fear,” the firm Explained In an x post, adding:
“Retail entrepreneurs are starting to show impatience, which history is a sign of signing for prices.”
BTC price is lacking in “serious catalyst”
Bitcoin has managed Sustain the $ 100,000 as support For more than a week while Hanging a 14-week high of $ 105,700 on May 12.
Despite compliance with extensive volatility throughout the risk properties, BTC/USD may be higher even if it is not for maneuvers of large trading quantities in exchange books, according to material resource indicators.
Related: Bitcoin hit $ 220k ‘reasonable’ in 2025, says the gold -based forecast
Looking at the Binance exchange, the material indicators argued that large blocks of Ask Liquidity were stacked above the price of the area, which was fine BTC prices in the range.
An accompanying chart shows that these liquidity clusters are currently sitting between $ 105,000 and $ 110,000.
“Unless we have a serious catalyst, I didn’t expect to see a sustainable breakout all the time high territory until the BTC had a legit support trial of $ 100,000,” it Summary In a post of May 16 at X.
Material indicators added that a major level to watch on the downside is the $ 98,000- $ 100,000 range.
“With all of the above, be prepared for a support test at the $ 98,000- $ 100,000 range, but beware of short squeezing and bull traps until that happens.”
The Bitcoin Bulls fought to hold basic support levels
Meanwhile, famous businessman Daan Crypto Trades said the “start of a recent move” to $ 93,000 was important for Bitcoin entrepreneurs forward.
Bitcoin trades “away from any large cluster of liquidity. The price has not been exchanged for a long time here. ExplainedAdding:
“The main level to find will be the locals high over $ 106,000 and the bottom up to $ 93,00, which is the start of the recent move.”
Meanwhile, material indicators pay Further attention In the 50-day and 100-day simple moving average (SMA), the major longer trendlines generated by a bullish cross, indicating a “strong upward momentum for the MacRo trend.”
For MN Capital founder Michael Van de Poppe, $ 98,000 is a “important place to handle” to ensure continuity upward.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
