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Bitcoin’s price has been fluctuating from $100,000 to $112,000 due to increased volatility caused by the growing uncertainty in macroeconomic conditions and rising geopolitical tensions. Bitcoin is still holding strong over the six-figure level despite these external pressures. This shows its resilience and readiness for a major move. The market is optimistic but cautious, and many traders expect a break-out in the next few weeks.
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Top analyst Daan shared a technical analysis highlighting that Bitcoin is now trading just below its all-time high, but continues to face strong resistance around the $109,000–$112,000 zone. The price has tried to break out of this range several times in the last month but has not been successful. Altcoins experienced sharp declines between 10% to 50% during this period. This highlights Bitcoin’s dominance as well as investor attention.
Bullish momentum continues to build despite the rejections. Bitcoin’s ability in such an unstable environment to remain elevated suggests that buyers have been able to maintain their position. accumulatingWaiting for the perfect moment to move higher. Price discovery could be triggered by a breakout confirmed above resistance, but failure to maintain key support might lead to further consolidation.
Bitcoin bulls push towards breakout
Bitcoin has gained more than 15% since May 1, extending the bullish trend which began in April after the price spiked up from $75,000. Since April, the buyers are in charge, defending consistently higher lows, and reclaiming critical technical levels. The steady increase in momentum fuels speculation that Bitcoin will soon reach new highs as the market’s sentiment continues to improve and more capital is flowing into cryptocurrency.
Analysts are now closely watching the $110,000–$112,000 resistance zone—a level that has held strong despite multiple breakout attempts. Daan noted Bitcoin’s price is just below the all-time record, yet it has been unable to move above that barrier on several occasions. In the last month, Bitcoin’s price hovered around resistance but has yet to deliver a breakout. Altcoins are struggling, as many have dropped between 10 and 50 percent. The drop in price highlights Bitcoin’s dominant position and traders caution.
Although the setup appears bullish, there remain risks. It is not enough to have a quick wick of $110K. A breakout requires a weekly close that’s strong or two consecutive closes over resistance. As long as you can wait, patience is the best policy. Chasers who chase before a confirmation may be caught up in false breakouts. When Bitcoin holds this level and then breaks through, chances of an even larger movement increase.
Bitcoin’s capacity to absorb macro-volatility and altcoin weaknesses while holding near its highs is a sign that there is strong demand. Momentum is building—but timing matters. Once a confirmed breakout has been achieved, it will signal the start of the next leg. Smart traders will be watching and waiting until then.
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BTC Weekly Chart Displays Strong Structure
Bitcoin’s weekly chart shows it trading at $107.319. It continues to remain just above the critical $109,300 level of resistance. Despite multiple attempts, BTC has failed to close a weekly candle above this zone—a critical milestone needed to confirm a breakout and signal the next phase of upward momentum. This level of $103,600 now acts as a strong support for the week, and has held firm through several recent pullbacks.
Long-term, the structure is bullish. The price continues to rise above the major moving averages. This includes the SMAs of the 50-week SMA (85,147), 100-week SMAs ($66,505) and 200-week SMAs ($49,239). All are trending up. This aligned reflects strong long-term performance, even while Bitcoin remains just below the all-time-highs.
However, volume remains low in comparison to the break-out seen late 2024. It is possible that traders will wait to confirm before they commit to new positions. This range is expected to remain unchanged until BTC has closed a candle weekly above $109300.
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If the bulls are successful, then it could be that we enter a period of price discovery. This would lead to a new round of inflows. But if rejection continues, the $103K–$105K zone becomes critical to hold. Bitcoin is currently in a bullish trend, however, there is still a need for confirmation before the next big move.
Chart by TradingView. Image from Dall E.
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Source: www.newsbtc.com
