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Bitcoin prices as a resistance of $ 105,000 prevent the assembly from the new historical maximum.
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Traders are slightly bear, but historical data suggest that a sudden bull step should not be excluded.
Bitcoin (BTC) The price has been consolidated in about $ 3,500 over the last seven days, as the level of $ 105,000 remains overhead resistance to break.
Bitcoin unable to burst $ 105,000
Data from COINTELEGRAPH Markets for And Bitstamp shows that the price of BTC oscillates between the level of resistance to $ 105,000 and $ 101,500, where it found support.
“$ BTC is stuck in a narrowing range of $ 101.5,000 – $ 104,000,” said Swissblock in post 16 May on X.
The onchain data provider said that Bitcoin began to consolidate After two unsuccessful attempts to break over resistance of $ 105,000.
“With the weekend ahead, the resolution is likely to be delayed unless we get a Friday break.”
For the market intelligence company Santiment, the inability to grow to a level of $ 105.00 did not see the traders lightly turn.
“In general, markets tend to move against the crowd expectations, suggesting that there is an increased probability that crypto markets have increased because of this increased fear,” the company he explained In the post x, adding:
“Retail traders are beginning to show impatience, which is a historically bull sign of prices.”
The BTC price lacks a “serious catalyst”
Bitcoin succeeded Keep $ 100,000 as support for more than a week Sowing a 14 -week height of $ 105 700 12th May.
Despite monitoring the wide volatility between risk assets, BTC/USD could be even higher if it were not according to the trade resources indicators for business entities on book orders.
Related: Bitcoin hits a reasonable $ 220,000 in 2025, says a gold -based prognosis
Looking at the replacement of binance, the materials indicators said that large blocks of liquidity of the application were stacked above the consumption price, thus clinging the BTC price within the range.
The accompanying chart shows that these clusters of liquidity are currently sitting between $ 105,000 and $ 110,000.
“If we don’t have a serious catalyst, I don’t expect to see a sustainable escape in historically high territory until BTC has legitimate support for $ 100,000,” said In the post of May 16 at X.
Material indicators added that the key level for monitoring at a disadvantage was the range of $ 98,000-100,000.
“With regard to all of the above, be prepared for a support test in the range of $ 98,000-100,000, but beware of a short cat and bull trap until it happens.”
Bitcoin bulls are fighting for holding key support levels
Meanwhile, Daan Crypto Tradees said the “recent step” to $ 93,000 was necessary for Bitcoins.
Bitcoin is traded “far from any large clusters of liquidity. The price has not made a long time. saidaddition:
“The main level to be careful would be local maximum over $ 106,000 and below $ 93.00, which was the beginning of a recent move.”
Material indicators paid other attention For a 50 -day and 100 -day simple moving diameter (SMA), key long -term trend lines that formed the Bull Cross, indicating “strong ascending momentum for macro trend”.
For the founder of MN Capital Michael van de Poppe, the USD is “a key area to stick” to ensure the upstairs.
This article does not contain investment counseling or recommendations. Every investment and business step includes a risk and readers should do their own research in decision -making.
