Bitcoin continues to struggle below the $105,000 resistance, trading in a narrow range despite a surge in volume and a bullish Golden Cross signal.
By Parth Dubey
Editor Hamza Tariq
Updated
3 mins read
Bitcoin BTC $96 611 24h volatility: 2.1% Market cap: $1.92 T Vol. 24h: $29.09 B is currently facing stiff resistance at the $105,000 mark, with price action stuck in a narrowing range for over a week. At the time of writing, BTC trades at $103,811.42, reflecting a modest 2% gain over the past 24 hours, alongside a notable 17% surge in trading volume.
Despite the bullish volume uptick, momentum has stalled just below $105K, with BTC claiming a daily high of $104,432.72.
According to Swissblock, BTC has been consolidating within a tightening $101,500–$104,000 zone after two failed attempts to breach the $105K ceiling. “Resolution will likely be delayed unless we get a Friday break,” the firm posted on X.
$BTC stuck in a narrowing $101.5K–$104K range.
🔹Two failed breakouts. Support tested twice and holding.
🔹With the weekend ahead, resolution likely delayed, unless we got a Friday break.Anyway, the next move would be sharp! pic.twitter.com/FnCAQjo8Je
— Swissblock (@swissblock__) May 16, 2025
Analysts from Santiment echoed this, noting that the crowd has begun turning slightly bearish, a sentiment that paradoxically signals the potential for a bullish move. Historically, price tends to move opposite to the prevailing retail sentiment.
🤑 Bitcoin has seen some resistance over the past week, being challenged to grow past the $104K to $105K level. This temporary "pumping of the brakes" has been enough to swing traders slightly bearish once again. Markets generally tend to move opposite to crowd's expectations,… pic.twitter.com/7toBDE5y6f
— Santiment (@santimentfeed) May 15, 2025
Material Indicators added that unless a “serious catalyst” appears, Bitcoin may need a proper support test around $100,000 before attempting a true breakout. FireCharts data shows sell orders building above the current price while buy orders are shifting lower, suggesting a possible retest of support near $100K and raising the risk of a bull trap without a strong catalyst.
Unless we have a serious catalyst, I’m not expecting to see a sustainable breakout to ATH territory until BTC has a legit support test at $100k, and FireCharts shows that the order book is priming for that with asks stacking and bids moving lower.
Of course we also have a Golden… pic.twitter.com/qIQdletCiE
— Material Indicators (@MI_Algos) May 15, 2025
Despite near-term resistance, the 50-day moving average has crossed above the 100-day, forming a Golden Cross that usually signals long-term bullish momentum. Still, traders are warned of short squeezes and false breakouts as long as $105K holds.
Balance of Power (BoP) on the daily chart hovers near neutral (0.01), showing no decisive tilt toward buyer or seller dominance, further evidence of market indecision.
A bullish breakout above $105K could set the stage for a push toward $108,765 (0 Fib top) and possibly extend to $110K+, confirming the upward trend continuation.
BTC 1D Chart with BoP and Fib levels | Source: TradingView
On the flip side, a drop below $100K could trigger sell pressure toward $98K, with the next strong Fib support lying at $84,442 (0.236 Fib) and then $73,992 (0.618 Fib).
Deeper extensions place longer-term downside targets at $59,003 (1.618 Fib) and $40,609 (2.618 Fib), though these are more relevant in the event of a full macro breakdown.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
