16 May 2025
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Bitcoin Faces Stiff Resistance Below $105K Amid Market Indecision
Bitcoin is currently facing resistance at the $105,000 mark, trading at $103,811.42 with a 2% gain in the past 24 hours and a 17% increase in trading volume. Despite this volume increase, momentum has stalled below $105K, with a daily high of $104,432.72.
Technical Resistance and Market Sentiment
- BTC has consolidated in the $101,500–$104,000 range after two failed attempts to breach $105K.
- Analysts suggest resolution may be delayed without a breakout by Friday.
- Crowd sentiment has turned slightly bearish, which historically suggests potential for a bullish move.
- Material Indicators note that Bitcoin may need a support test around $100,000 for a true breakout.
- Sell orders are building above the current price while buy orders shift lower, indicating a possible retest of support near $100K.
Market Indicators
- The 50-day moving average crossed above the 100-day moving average, forming a Golden Cross signaling long-term bullish momentum.
- A breakout above $105K could lead to targets around $108,765 and $110K.
- A drop below $100K could push prices toward $98K, with further support at $84,442 and $73,992.
- Longer-term downside targets include $59,003 and $40,609 in the event of a macro breakdown.

BTC 1D Chart with BoP and Fib levels | Source: TradingView