Analysts Warn Bitcoin Rally Stalls Under $114K Resistance
Crypto analysts caution that recent Bitcoin price recoveries remain false rallies until key resistance at $114,000 is reclaimed and held on the daily chart. According to BitBull, failed Bitcoin price breakouts below this level and growing sell pressure risk further declines. The longer Bitcoin trades below $114K, the higher the probability of a renewed crash. Another analyst, Mags, highlights $108,000 as the critical support to watch: defending this floor could propel BTC back to all-time highs, while a breakdown may trigger a drop below $100,000. These insights underscore bearish sentiment and signal that traders should treat short-term upswings as potential bull traps.
Bearish
Analysts’ emphasis on the $114,000 resistance and $108,000 support underscores a cautious, bearish market outlook. Historically, failed breakouts—like those seen in 2021—have precipitated sharp corrections and heightened volatility. The label of ‘bull trap’ warns traders against overcommitting to short-term recoveries, likely prompting tighter risk controls and reduced leverage. In the near term, sustained inability to clear $114K will intensify downward pressure toward key supports, including $108K and potentially below $100K. Over the long term, repeated failures at major resistance can erode market confidence and delay a sustained bullish cycle. Only a firm hold above $114K or successful defense of $108K could restore upward momentum, but current signals favor a bearish bias.