Bitcoin Resistance Holds at $107K; Next Support $104K
Bitcoin resistance at $107K has held firm after a late rally stalled at $107,465 and formed a potential double-top pattern. A significant CME futures gap near $104K now marks the next critical support level. If Bitcoin breaks below this CME futures gap, traders could see tests of $100K and the $90K–$93K zone. Experts including Ted Pillows and Daan Crypto Trades warn bears remain in control until Bitcoin reclaims $107K resistance. Michael van de Poppe recommends watching the $103K–$105K range for a potential double-bottom bounce. QCP Capital adds that fresh gains above $118K may trigger OG selling pressure from long-term holders, keeping the medium-term outlook range-bound pending macro tailwinds and ETF inflows.
Bearish
The failure to breach Bitcoin resistance at $107K and the presence of a CME futures gap near $104K suggest continued downside risk, as traders may push prices toward support zones at $100K and $90K–$93K. Short-term pressure remains bearish until BTC reclaims the $107K level, while a possible bounce may occur if a double-bottom forms in the $103K–$105K range. Long-term gains above $118K could face OG selling pressure from long-term holders, keeping the market in a neutral, range-bound state until macro tailwinds and ETF inflows materialize.