Main meals:
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Bitcoin price is reinforced as resistance at $ 105,000, which prevents gathering to the highest level ever.
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Traders are a little bit, but historical data indicates that the sudden upscale step should not be excluded.
The price of Bitcoin (BTC) has been combined in a range of about $ 3500 over the past seven days, when the level of $ 105,000 is still the general resistance of breakage.
Bitcoin is unable to break 105,000 dollars
Cointelegraph Markets Pro and Bitstamp data shows that the price of BTC swings between its resistance level at 105,000 dollars and 101,500 dollars, where the support was found.
“$ BTC stuck in the narrowing range of 101.5 thousand dollars – 104 thousand dollars,” He said Swissblock in the May 16 Publication on X.
Onchain data provider said Bitcoin started to unify after two failed attempts to break the resistance at $ 105,000.
“With the next weekend, the decision is likely to be delayed, unless we get a break on Friday.”
For Santiment on the market, the failure to grow over the level of $ 105.00 witnessed that traders are turning again.
“The markets generally tend to move against the crowd’s expectations, indicating an increasing possibility of high encryption markets due to this increasing fear,” the company Make up In the X Publication, add:
“Retailing merchants began to show patience, and it is historically an emerging sign of prices.”
The BTC price lacks a “dangerous catalyst”
Bitcoin managed to keep $ 100,000 in support for more than a week, while it reached 14 weeks from 105,700 dollars on May 12.
Despite following extensive fluctuations through the origins of the risk, BTC/USD may be higher if it is not higher through large trading entity maneuvers in exchange orders books, according to indicators of commercial resource materials.
Related to: Bitcoin, which reaches $ 220,000, says in 2025
Looking at the Binance exchange, the material indicators have argued that large liquidity blocks are asked to be stacked above the instant price, which suspends the BTC price in the range.
The accompanying graph shows that these liquidity groups are currently sitting between $ 105,000 and $ 110,000.
“Unless we have a dangerous catalyst, I do not expect to see a sustainable outbreak of the high area at all until BTC tests a legal support test of $ 100,000”, it it summary In the May 16 publication on X.
The material indicators added that the main level of watching the negative side was the range from 98,000 to 100,000 dollars.
“With all of the above in mind, be ready to test the support in a range between 98,000 and 100,000 dollars, but beware of short traps and bull traps until this happens.”
Bitcoin Bulls fights for the main support levels
Meanwhile, the famous trader Dan Chipiro said that “the beginning of the last step” at a price of $ 93,000 was necessary for bitcoin traders to move forward.
Bitcoin is trading “away from any large liquidity groups. The price has not been traded for a long time here. So, after the initial pressure of the short pants, there are not many new situations that were built around this area,” Make upAdding:
“The main level to search for is its highest local levels that exceed $ 106,000 and less than $ 93.00, which was the beginning of the last step.”
Material indicators in the meantime Additional attention To the simple moving averages for 50 days and 100 days (SMAS), the main long -term main lines that formed a bullish cross, indicating a “strong escalating momentum of the macro direction”.
For the founder of MN Capital Michael Van De Poppe, $ 98,000 is a “decisive area to stick to” in order to ensure continuing to the top.
This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.
