Key results:

• Bitcoin prices are consolidated as a resistance of USD 105,000, prevents the rally of recent highest all time.

• Traders are slightly bear, but historical data suggest that a sudden stubborn move should not be ruled out.

The price of Bitcoin (BTC) has been consolidated in the range of approximately 3,500 USD in the last seven days, because the level of USD 105,000 remains resistance to breaking.

Bitcoin is unable to break $ 105,000

Data from Cointelegraph Markets Pro and Bitstamp show that the BTC price oscillates between the level of resistance of 105,000 to USD 101,500, where he found support.

“$ BTC got stuck in a narrowing range of USD 101.5 thousand – USD 104,000.” he said Swissblock in the post on May 16 on X.

The Onchain data supplier said that Bitcoin began to consolidate after two unsuccessful attempts to exceed the resistance of USD 105,000.

“With the upcoming weekend, the resolution will probably be delayed, unless we get a Friday break.”

In the case of the Santiment market intelligence company, the lack of exceeding the level of $ 105.00 caused that traders are slightly shifting.

“Markets usually move the opposite to the expectations of the crowd, which suggests that there is an increased probability of growth of cryptographic markets because of this increased fear”, the company explained In post X Addition:

“Retail traders are starting to show impatience, which is historically a stubborn sign for prices.”

The price of BTC is missing a “serious catalyst”

Bitcoin managed to maintain $ 100,000 as support for over a week, reaching a 14-week maximum $ 105,200 USD on May 12.

Despite the wide variability in the field of risk assets, BTC/USD could be even higher, were it not for the maneuvers of enormous trade entities in books on stock exchange orders, in accordance with the indicators of commercial materials.

Related: Bitcoin reaching $ 220,000 “reasonable” in 2025

Looking at the exchange of binance, the material indicators said that the enormous blocks of liquidity of the file were arranged above the spot price, reminiscent of the price of BTC in the range.

The accompanying table shows that these liquidity clusters are currently from USD 105,000 to 110,000.

“Unless we have a serious catalyst, I do not expect that I will see a balanced breakthrough in a high territory until BTC has a legal support test of $ 100,000”, IT he said In the post of May 16 on X.

Material indicators added that the key level for observing in a minus was the range from 98,000–100,000 USD.

“Bearing in mind all of the above, get ready for a support test in the range of 98,000-100,000 USD, but watch out for short clamps and bull traps until it happens.”

Bitcoin Bulls are fighting to maintain key support levels

Meanwhile, the Daan Crypto Trades trader said that “the beginning of the last move” in the amount of USD 93,000 was necessary for Bitcoin traders.

Bitcoin trades “away from all large clusters of liquidity. The price has not traded for a long time. So after initial compression of the shorts there are not so many new items built in this area”, his x post he saidAddition:

“The main level to pay attention would be local maxima above USD 106,000 and below to USD 93.00, which was the beginning of the last traffic.”

Material indicators paid Additional attention Up to 50-day and 100-day straight average movable (SMA) key long-term trend lines that formed a stubborn cross, which indicates “strong rush up to the macro trend”.

For the founder of MN Capital, Michael Van de Poppe, $ 98,000 is a “key area to maintain” to ensure continuation.

This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.