Bitcoin Stuck At $105,000: What Does Technical Analysis Say?

by Khyathi Dalal Benzinga Staff Writer

Zinger Key Points

Trader Kevin warns failure to hold the $100K–$103K zone could trigger a prolonged correction.
Daan Crypto Trades sticks to a 4-year cycle plan, scaling out gradually by late 2025.
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Bitcoin BTC/USD continues to hover near key resistance, with traders closely watching support levels to avoid a deeper summer correction.

What Happened: In an update in his exclusive Patreon group, prominent analyst Kevin highlighted that BTC has once again failed to break above the $106,800 resistance, a level that aligns with the macro 1.703 Fibonacci extension.

After a 50% rally from cycle lows without a significant pullback, rejection at this level was anticipated.

Kevin pointed to recent golden crosses on both the daily and weekly timeframes (50/200 SMA and 21 EMA/20 SMA), typically followed by 7–10% corrections, and occasionally deeper ones.

A fresh weekly hash ribbon buy signal—a historically reliable bullish indicator, has also flashed but often precedes short-term dips before upside continuation.

Despite bullish technical setups, Kevin noted mixed macro conditions and seasonal weakness in crypto markets.

If Bitcoin fails to hold support between $100,000–$103,000, it could slide into a prolonged correction.

If support holds, BTC could finally break through $106,800 and resume its upward trend.

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Also Read: Bitcoin’s Post-Golden Cross Correction Playing Out — Benjamin Cowen Flags Signs Of Q3 Weakness

Why It Matters: Daan Crypto Trades echoed the uncertain near-term outlook, emphasizing that Bitcoin’s price has reliably followed a 4-year halving cycle, whether measured top-to-top or bottom-to-bottom.

He pushed back against speculation that this cycle will behave differently due to ETFs or broader market maturity, arguing that such claims were made in prior cycles too.

"Skepticism about the cycle actually strengthens it," he said, reaffirming his plan to scale out of positions gradually through late 2025, just as he did in the 2021 cycle peak.

What's Next: Traders now look to the $100,000–$103,000 zone as a critical line in the sand.

A breakdown could open the door to a summer slump, while a rebound might trigger a breakout above resistance, potentially setting the stage for a fresh leg up.

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