Bitcoin Hits Resistance Wall—Will Bulls or Bears Win the Next Round?
Crypto traders grip their seats as Bitcoin battles a stubborn resistance level. The king of crypto keeps testing the ceiling—only to get smacked back down like an overleveraged hedge fund manager.
Key technicals flash warning signs. Every failed breakout attempt fuels bearish momentum. But remember: Bitcoin's volatility cuts both ways—today's resistance could be tomorrow's distant memory.
Meanwhile, traditional finance 'experts' still can't decide if crypto is dead or about to replace the dollar. Place your bets.
Key technical points
- Major Resistance Cluster: $103,000 level aligned with the 200 Moving Average, daily resistance, and the 0.618 Fibonacci retracement.
- Bearish Market Structure: Clear lower high and lower low now established.
Volume Weakness: Bounce into resistance is occurring on low volume, indicating lack of bullish conviction. - Rejection Probability: Current region acting as strong resistance, hinting at further downside unless reclaimed.
- Trend Shift Confirmation: Failure to break above $103K will confirm bearish structure on local timeframes.
Bitcoin’s recent bounce has taken price directly into a dense resistance zone that includes the 200 MA, a daily horizontal resistance at $103,000, and the golden ratio (0.618 Fibonacci). Historically, such confluence levels are difficult to break without strong conviction and volume, both of which are currently absent.|
Volume analysis shows that the rally into this resistance zone has occurred on declining buy-side interest, raising red flags for a bullish continuation. Without a sudden spike in volume, this setup resembles a textbook bearish retest, a common pattern in downtrending markets, where price revisits former support turned resistance before continuing lower.
Market structure has now clearly shifted into a bearish state. The recent correction not only broke prior swing lows but also confirmed a new lower high with this failed push. This means that unless the $103,000 level is reclaimed and held with strength, the trend remains tilted to the downside.
What to expect in the coming price action
If bitcoin fails to reclaim the $103,000 resistance cluster with strong volume in the near term, another leg down becomes increasingly likely. Traders should watch for signs of a confirmed lower high forming, which could signal a move toward deeper support levels.
