Bitcoin Eyes $108,000, But One Thing Stands In The Way

Bitcoin BTC/USD continues to hover near key resistance levels, and while the path to $108,000 appears increasingly clear, traders are bracing for a short-term slowdown before the next big move.

What Happened: Crypto analyst Emperor noted that Bitcoin has reclaimed a previous trading range and is now forming a new one between $94,000 and $108,000.

The rapid recovery to the top of this range suggests the market is entering a temporary consolidation phase.

According to Emperor, immediate price targets include the $99,350 node point of control (nPOC) and the $107,000–$108,000 zone.

While there's minimal resistance ahead, some ask walls have formed near $104,000–$104,500, if broken, price action could accelerate quickly to $108,000.

He adds that technical and volume support sits firmly between $98,000 and $99,000, aligned with Fibonacci retracements and prior key resistance-turned-support zones.

Any sharp pullback into this zone, he suggests, would be a buy-the-dip opportunity, although he doesn't anticipate it yet.

Also Read: Arthur Hayes Predicts Bitcoin To Hit $1 Million By 2028

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What's Next: Echoing this cautious optimism, Inmortal Crypto expects a brief dip before the next major push to $120,000, suggesting the current zone is more of a cooling-off phase than a reversal.

Meanwhile, trader Kevin flagged the area around $106,800 as a "critical test zone," reiterating his previous warnings that this remains major resistance.

He emphasized that while momentum is bullish, traders should remain cautious here as Bitcoin faces one of its most important levels of the year.

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