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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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The post Bitcoin Stuck Below $105K: Here’s What’s Happening appeared first on Coinspeaker.
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