{"id":71407,"date":"2025-06-04T00:54:18","date_gmt":"2025-06-04T00:54:18","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=71407"},"modified":"2025-06-04T00:54:18","modified_gmt":"2025-06-04T00:54:18","slug":"bitcoin-price-encounters-resistance-traders-eye-breakout-or-rejection","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=71407","title":{"rendered":"Bitcoin Price Encounters Resistance \u2014 Traders Eye Breakout or Rejection"},"content":{"rendered":"

Bitcoin price started a fresh decline and tested the $103,200 zone. BTC is now recovering and facing hurdles near the $107,000 zone.<\/em><\/p>\n

Bitcoin started a recovery wave above the $105,000 zone.
\nThe price is trading above $105,000 and the 100 hourly Simple moving average.
\nThere is a connecting bullish trend line forming with support at $104,050 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a fresh increase if it clears the $107,000 resistance zone.<\/p>\n

Bitcoin Price Faces Hurdles<\/h2>\n

Bitcoin price started a fresh decline<\/a> and traded below the $105,500 support zone. BTC even traded below the $105,500 level and tested the next support at $103,200.<\/p>\n

A low was formed at $103,200 and the price is attempting a recovery wave. There was a move above the $104,500 level and the 23.6% Fib retracement level of the recent decline from the $110,500 swing high to the $103,200 low. The price even cleared the $105,000 resistance.<\/p>\n

Bitcoin is now trading above $105,000 and the 100 hourly Simple moving average<\/a>. There is also a connecting bullish trend line forming with support at $104,050 on the hourly chart of the BTC\/USD pair. On the upside, immediate resistance is near the $106,850 level. It is close to the 50% Fib retracement level of the recent decline from the $110,500 swing high to the $103,200 low.<\/p>\n

<\/a><\/p>\n

The first key resistance is near the $107,000 level. The next key resistance could be $107,800. A close above the $107,800 resistance might send the price further higher. In the stated case, the price could rise and test the $109,000 resistance level. Any more gains might send the price toward the $110,000 level.<\/p>\n

Another Drop In BTC?<\/h2>\n

If Bitcoin fails to rise above the $107,000 resistance zone, it could start another decline. Immediate support is near the $105,000 level. The first major support is near the $104,000 level and the trend line.<\/p>\n

The next support is now near the $103,200 zone. Any more losses might send the price toward the $102,500 support in the near term. The main support sits at $101,200, below which BTC might gain bearish momentum.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n

Major Support Levels \u2013 $105,000, followed by $104,000.<\/p>\n

Major Resistance Levels \u2013 $107,000 and $107,800.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price started a fresh decline and tested the $103,200 zone. BTC is now recovering and facing hurdles near the $107,000 zone. Bitcoin started a recovery wave above the $105,000 zone. The price is trading above $105,000 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at […]<\/p>\n","protected":false},"author":0,"featured_media":71408,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-71407","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\/71407"}],"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=71407"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/71407\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/71408"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=71407"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=71407"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=71407"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}