- Bitcoin’s price is closely monitored around the $100,000 mark, seen as a critical support zone.
- Recent volatility has seen Bitcoin fluctuate between roughly $94,000 and over $126,000.
- Key support levels identified include $98,000, with possible declines to mid-$90,000s if support fails.
- Significant resistance levels are noted between $105,000 and $123,000, with all-time highs above $126,000 posing a challenge.
- Analysts anticipate strong price reactions at these support and resistance zones, influencing Bitcoin’s market movements.
Bitcoin’s trading activity currently centers near the $100,000 price point, a level many analysts regard as a major support for the asset. This price threshold has repeatedly attracted market attention as Bitcoin moves around it in recent trading sessions.
The cryptocurrency traded above $104,000 recently, after recovering from dips below $100,000, according to data from Coinbase on TradingView. Bitcoin reached a record high exceeding $126,000 last month but has since fallen nearly 20%.
Market participants are watching key price levels that could influence Bitcoin’s next moves. Tim Enneking, managing partner at Psalion, described $100,000 as a “massive” support line that dominates current trading dynamics.
Independent analyst William Noble stated via email that maintaining the zone between $101,000 and $103,000 would be “most constructive.” He warned that a major stock market disruption could push prices down to between $95,000 and $98,000, but predicted that such a scenario might trigger a strong rebound regardless of market conditions.
Several voices highlighted $98,000 as a critical support point. Joe DiPasquale, CEO of the cryptocurrency hedge fund manager BitBull Capital, noted that traders are watching whether Bitcoin can hold the range near $98,000 to $100,000 following a sharp decline from about $110,000.
David Brickell, head of international distribution at FRNT, pointed out that if support below $98,000 fails, Bitcoin could fall toward $88,000, referencing the breakout zone after April’s sell-off.
Other analysts agreed on a tiered support structure. Independent crypto analyst Armando Aguilar listed supports at mid-$98,000, followed by high $96,000, then low $94,000. According to Enneking, if Bitcoin passes below $94,000, it could drop into the mid-$80,000s, with a strong base expected at $74,000. He added, “For the record, I don’t see us testing any of those levels.”
On the resistance front, analysts identified key price ceilings where selling could slow or reverse upward movement. DiPasquale mentioned that breaking and sustaining above $105,000 could build momentum, with the region between $110,000 and $112,000 as the next challenge. Aguilar agreed, adding resistance levels near low $105,000, high $106,000, and mid $108,000.
Enneking identified higher resistance points at $107,000, $112,000, $116,000, and $123,000, cautioning that surpassing the all-time high of $126,000 remains difficult. Brickell noted that moving beyond $107,000 would relieve downward pressure, while breaking above $115,000 to $117,000 could bring new record highs within reach.
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