Bitcoin Dips Below $105K Amid 1.17% Gain, Eyes $110K Resistance
Over the past week, Bitcoin price has swung below key support levels on the OKX exchange, dipping under $102,000 on November 5 and briefly falling below $105,000 to $104,966.40 on November 10. Despite the intraday volatility, Bitcoin price posted a 1.17% gain on November 10 after a 1.19% drop earlier in the week.
Traders are watching whether Bitcoin can reclaim the $105,000 support and challenge resistance near $110,000. Technical analysis warns that a sustained move below $105,000 could trigger short-term bearish momentum, while a breakthrough above $110,000 may renew bullish sentiment. Bitcoin remains range-bound amid macroeconomic uncertainty and holds above major long-term moving averages.
Neutral
The combined news highlights mixed signals for Bitcoin price: short-term dips below $105K and $102K point to bearish risks, while intraday gains and holding above long-term moving averages signal underlying support. Traders remain range-bound between $105K and $110K, waiting on a decisive break. This blend of downward pressure and potential breakout keeps market impact neutral in the near term.