{"id":67243,"date":"2025-05-18T16:00:37","date_gmt":"2025-05-18T16:00:37","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=67243"},"modified":"2025-05-18T16:00:37","modified_gmt":"2025-05-18T16:00:37","slug":"bitcoin-must-close-above-107000-to-confirm-breakout-or-risk-dropping-to-98k","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=67243","title":{"rendered":"Bitcoin Must Close Above $107,000 To Confirm Breakout Or Risk Dropping To $98K"},"content":{"rendered":"

After a powerful rally earlier this month, Bitcoin\u2019s price action has stalled just above $103,000 <\/a>and has been caught in a tight consolidation range for over the past week. The daily chart shows consistent resistance just above $107,000, with the latest candles forming in a compressed horizontal band, indicating indecision and low momentum. <\/p>\n

This price behavior could be seen as a pause before the next leg higher. However, it could also be a trap that could cause a reversal towards $98,000.<\/p>\n

Daily Close Above $107K A Clear Breakout Signal<\/h2>\n

Bitcoin\u2019s current consolidation around the $103,000 price level has dragged on for over a week, and an eventual breakout could happen into any direction. In a recent post on social media platform X, crypto analyst Ali Martinez noted the importance of<\/a> a daily close above $107,000 for a bullish Bitcoin.\u00a0<\/a><\/p>\n

His chart illustrates that price has approached this threshold multiple times since December <\/a>2024 but failed to sustain a close on the daily timeframe. This, in turn, has led to the formation of a horizontal barrier just beneath $108,000. Notably, even Bitcoin\u2019s all-time high of $108,786 on January 20 failed to close above the $107,000 price level on that day.<\/p>\n

According to Martinez, a confirmed close above this level<\/a> could open the door for further upside movement toward new all-time highs. However, until this threshold is decisively cleared, Martinez warns that traders should be cautious and avoid forcing positions.<\/p>\n\n

Image From X: @ali_charts<\/a><\/p>\n

Potential Bitcoin Trap Setup And Liquidity Sweep To $98K<\/h2>\n

A separate technical breakdown by crypto analyst TehThomas, published on TradingView, presents a far more cautious outlook for Bitcoin<\/a>. Similarly, the analyst noted that Bitcoin has spent more than eight days locked in a narrow range between roughly $100,000 and $105,800. <\/p>\n

According to his liquidity-based framework, this range is likely being used as a trap to invite both long and short traders into premature breakout trades. His 4-hour candlestick timeframe chart shows a clear consolidation block, with price failing to escape either end, and liquidity pooling above $105,800 as well as under $100,000.<\/p>\n

TehThomas believes the equal highs near $105,800 are acting as bait for breakout longs. He expects Bitcoin to briefly sweep these highs, only to cause a fast and decisive move downwards <\/a>into the lower demand zone between $98,000 and $97,500. <\/p>\n

This zone, marked as a large unmitigated fair value gap and golden pocket level on his chart, is where he expects the price to react next, once the liquidity on both sides is taken.<\/p>\n\n

Image From TradingView: TehThomas<\/a><\/p>\n

However, this short setup towards $98,000 would be invalidated if the Bitcoin price manages to hold above $105,800 and shows a continued strong volume <\/a>and follow-through.<\/p>\n

At the time of writing, Bitcoin was trading at $103,914, down by 0.06% in the past 24 hours.<\/p>\n

Featured image from Unsplash, chart from TradingView<\/em><\/p>","protected":false},"excerpt":{"rendered":"

After a powerful rally earlier this month, Bitcoin\u2019s price action has stalled just above $103,000 and has been caught in a tight consolidation range for over the past week. The daily chart shows consistent resistance just above $107,000, with the latest candles forming in a compressed horizontal band, indicating indecision and low momentum. This price […]<\/p>\n","protected":false},"author":0,"featured_media":67244,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-67243","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/67243"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=67243"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/67243\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/67244"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=67243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=67243"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=67243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}