Bitcoin Price Strength Grows, Sub-$100K Drop Fades

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Bitcoin price hovers around $105,000 on Wednesday and shows staying power as BTC’s chance of falling to $100,000 appears to be decreasing, new analysis suggests.

Bitcoin price consolidates around $105,000 as liquidity builds up above the spot price.

A support/resistance flip at $106,00 is a must for the bulls as $100,000 remains a key level.

Bitcoin fell alongside the broader crypto market during Tuesday’s late New York trading hours, dropping by as much as 4% to $103,400 after US President Donald Trump’s comments on the Iran-Israel conflict.

After tapping the liquidity around $103,000, traders said a correction to areas below $100,000 was unlikely as liquidity builds up above $106,000. 

Bitcoin price key support remains at $100,000
Bitcoin’s price has held successfully above the $100,000 psychological level since reclaiming it on May 8. This has remained a critical level on traders’ radars and has not received a convincing retest recently.


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