Bitcoin Holds Strong Near $105,000, Drop Below $100,000 Unlikely
Bitcoin (BTC) is trading around $105,000 on Wednesday, showing strength as analysts believe a fall below $100,000 is now less likely. The price is consolidating, with liquidity building up above the current level.
Key Levels to Watch
- $106,000: A crucial resistance level—if Bitcoin breaks above, it could trigger a rally.
- $100,000: A major support level that has held since May 8. Losing this could lead to further downside.
Why a Drop Below $100,000 Looks Unlikely
Bitcoin dipped to $103,400 late Tuesday after U.S. President Donald Trump’s comments on the Iran-Israel conflict. However, traders say the price quickly recovered, and a deeper drop below $100,000 seems unlikely because:
- Liquidity is building above $106,000, meaning buyers are stepping in.
- $100,000 has strong support—if it holds, Bitcoin could push higher.
What Analysts Say
- Michael van de Poppe (MN Capital founder) thinks Bitcoin may retest $100,000–$103,000 but believes a drop below $100,000 is “less likely.”
- CrypNuevo (a crypto analyst) says Bitcoin looks strong as long as it stays above $100,000. Flipping $106,000 into support could trigger a new rally.
Liquidation Zones Could Push Bitcoin Higher
Data from CoinGlass shows:
- $106,500: A key liquidation zone with $70 million in ask orders.
- $109,000–$110,000: Another major liquidity cluster.
If Bitcoin breaks $106,000, a short squeeze could push prices toward $110,000 as traders rush to cover their positions.
Final Thoughts
Bitcoin remains in a strong position above $100,000, with potential for a move higher if it breaks $106,000. However, traders should watch these key levels closely.
Disclaimer: This article is not financial advice. Always do your own research before investing.
