The main dishes to remember:
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The Bitcoin price is consolidated as a resistance at $ 105,000 prevents a gathering of new heights of all time.
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Merchants are slightly downgraded, but historical data suggest that a sudden increased decision should not be excluded.
The price of Bitcoin (BTC) has consolidated in a range of around $ 3,500 in the last seven days, because the level of $ 105,000 remains the resistance to general costs to break.
Bitcoin unable to break $ 105,000
Cointelegraph Markets Pro and Bitstamp data show that the BTC price has oscillated between its level of resistance at $ 105,000 and $ 101,500, where it found the support.
“$ BTC is stuck in a range of $ 101.5,000 at $ 104,000,” said SwissBlock in a position on May 16 on X.
ONCHAIN’s data supplier said Bitcoin started to consolidate after two unsuccessful attempts to exceed resistance at $ 105,000.
“With the coming weekend, the resolution will probably be delayed, unless we get a break from Friday.”
For the intelligence company of the Santiment market, not exceeding the level of $ 105,000 saw the merchants turn slightly down.
“The markets generally tend to move in front of the expectations of the crowd, which suggests that there is an increased probability of assembly of cryptographic markets because of this increased fear,” said the company in a post X, adding:
“Detail traders are starting to show impatience, which is historically a bullish sign for prices.”
The BTC price lacks “serious catalyst”
Bitcoin managed to maintain $ 100,000 as a support for more than a week while reaching heights of 14 weeks of $ 105,700 on May 12.
Despite a large volatility between risk assets, the BTC / USD could have been even higher without the maneuvers of large -volume commercial entities on stock market books, according to indicators of commercial resource equipment.
In relation: Bitcoin hitting $ 220,000 “reasonable” in 2025, explains gold -based forecasts
Looking at the exchange of Binance, the material indicators said that large demand liquidity blocks were stacked above the cash price, pinning the price of the BTC in the range.
A graphic that accompanies it shows that these liquidity clusters are currently between $ 105,000 and $ 110,000.
“Unless we have a serious catalyst, I do not expect to see a sustainable escape in the high territory of all time until BTC passed a legitimate support test at $ 100,000,” he said in a position on May 16 on X.
Material indicators added that a key level to monitor during the drop was the range from $ 98,000 to $ 100,000.
“With all that precedes in mind, prepare for a support test in the range of $ 98,000 to $ 100,000, but beware of short compressions and bull traps until it happens.”
Bitcoin Bulls are fighting to hold key support levels
Meanwhile, the merchant Daan Crypto Trades said that the “start of recent decision” at $ 93,000 was essential for Bitcoin traders in the future.
Bitcoin is negotiated “far from all the major liquidity clusters. The price has not negotiated for once again here. So, after the initial pressure of shorts, there are not many new positions made up in this area, “said his X post, adding:
“The main level to be monitored would be local heights above $ 106,000 and below $ 93.00, which was the start of the recent move.”
Material indicators have paid additional attention to the simple 50 -day mobile averages and 100 days (SMAS), the long -term key trend lines that formed a bullish cross, indicating a “ruling momentum for the macro trend”.
For the founder of MN Capital, Michael Van de Poppe, $ 98,000 is a “crucial domain to keep” in order to ensure the upward continuation.
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.
