Source: Cointelegraph.com NewsKey takeaways:<\/p>\n
Bitcoin price consolidates as resistance at $105,000 prevents rally to new all-time highs.
\nTraders are slightly bearish, but historical data suggests that a sudden bullish move should not be ruled out.<\/p>\n
Bitcoin (BTC) price has been consolidating within a roughly $3,500 range over the past seven days as the $105,000 level remains the overhead resistance to break. Source: Cointelegraph.com NewsKey takeaways: Bitcoin price consolidates as resistance at $105,000 prevents rally to new all-time highs. Traders are slightly bearish, but historical data suggests that a sudden bullish move… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129382"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129382"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129382\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129382"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nBTC\/USD weekly chart. Cointelegraph\/TradingViewBitcoin unable to crack $105,000
\nData from Cointelegraph Markets Pro and Bitstamp shows that BTC’s price has been oscillating between its resistance level at $105,000 and $101,500, where it has found support.
\n\u201c$BTC is stuck in a narrowing $101.5K\u2013$104K range,\u201d said Swissblock in a May 16 post on X.\u00a0
\nThe onchain data provider said that Bitcoin began consolidating after two failed attempts to break above the resistance at $105,000.\u00a0
\n\u201cWith the weekend ahead, resolution will likely be delayed, unless we get a Friday break.\u201d
\nBTC\/USD chart. Source: SwissblockFor market intelligence firm Santiment, failure to grow past the $105,00 level has seen traders flip slightly bearish again.\u00a0
\n\u201cMarkets generally tend to move opposite to the crowd’s expectations, suggesting there is a heightened probability of crypto markets rising due to this increased fear,\u201d the firm explained in an X post, adding:
\n\u201cRetail traders are beginning to show impatience, which historically is a bullish sign for prices.\u201d
\nBitcoin social volume. Source: SantimentBTC price lacks \u201cserious catalyst\u201d
\nBitcoin has managed to sustain $100,000 as support for over a week while hitting 14-week highs of $105,700 on May 12.\u00a0
\nDespite following broad volatility across risk assets, BTC\/USD may have gone even higher were it not for maneuvers of large-volume trading entities on exchange order books, according to trading resource Material Indicators.
\nRelated: Bitcoin hitting $220K ‘reasonable’ in 2025, says gold-based forecast
\nLooking at the Binance exchange, Material Indicators argued that large blocks of ask liquidity were stacked above the spot price, pinning the BTC price in range.
\nAn accompanying chart shows that these liquidity clusters currently sit between $105,000 and $110,000.
\n\u201cUnless we have a serious catalyst, I\u2019m not expecting to see a sustainable breakout to the all-time high territory until BTC has a legit support test at $100,000,\u201d it summarized in a May 16 post on X.\u00a0\u00a0
\nBTC\/USDT order book liquidity data. Source: Material IndicatorsMaterial Indicators added that a key level to watch on the downside was the $98,000-$100,000 range.
\n\u201cWith all of the above in mind, be prepared for a support test in the $98,000-$100,000 range, but beware of short squeezes and bull traps until that happens.\u201d
\nBitcoin bulls fight to hold key support levels
\nMeanwhile, popular trader Daan Crypto Trades said that the \u201cstart of the recent move\u201d at $93,000 was essential for Bitcoin traders going forward.
\nBitcoin is trading \u201cfar away from any large liquidity clusters. The price didn’t trade for a long time up here just yet. So, after the initial squeeze of shorts, there are not that many new positions built up around this area,\u201d part of his own X post explained, adding:
\n\u201cThe main level to look out for would be local highs above $106,000 and below all the way down to $93,00, which was the start of the recent move.\u201d
\nBTC\/USDT liquidation heatmap. Source: Daan Crypto TradesMaterial Indicators meanwhile paid additional attention to the 50-day and 100-day simple moving averages (SMAs), key longer-term trendlines that formed a bullish cross, indicating a \u201cstrong upward momentum for the macro trend.\u201d
\nFor MN Capital founder Michael van de Poppe, $98,000 is a \u201ccrucial area to hold on to\u201d in order to ensure continuation upward.
\nSource: Michael van de PoppeThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"