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Bitcoin News: Potential Pullback to $105,000 After Rejection at $110,000
Bitcoin is currently experiencing significant resistance at levels above $110,000. This resistance indicates that bears are actively preventing the cryptocurrency from reaching new all-time highs. Despite these challenges, support has consistently remained strong above $108,000.
Market Dynamics and Analyst Insights
Crypto analyst TehThomas had anticipated this resistance near the $110,000 mark. According to TehThomas, Bitcoin might see a minor pullback. After a recent rally from around $100,000 to levels surpassing $110,000, the cryptocurrency managed to close several fair value gaps on the four-hour chart. This achievement suggests a bullish outlook in the short term.
However, the scenario is not devoid of risks. The strength shown in filling these gaps might lead to a predictable pattern: a swift rise followed by a minor correction before continuing its upward trajectory.
Potential Retreat and Recovery Strategy
The recovery of Bitcoin above $110,000 has left an unfilled fair value gap just below $107,000. This gap needs closure before any further bullish momentum can sustainably continue. A temporary retreat to this level would not signify a bearish trend but rather serve as a launching point for further gains.
TehThomas describes this movement as a “classic breakout-fill-continue sequence.” He predicts that the price could dip below $105,000, entering the $104,000 range before rebounding. This expected 5% pullback could impact altcoins negatively, yet for Bitcoin, the overall market sentiment remains positive.
Once the gap is filled, we could witness a substantial rally, potentially setting the stage for new record highs. “I’m expecting a controlled retracement to fill the new 4H imbalance, after which the price could continue pushing toward major resistance areas,” TehThomas elaborated.
Conclusion: Bitcoin’s Bullish Outlook Maintained
Despite potential short-term volatility, the structured and clean momentum of Bitcoin underlines a bullish trend that is likely to continue. For further details on market movements and expert analysis, readers can explore more about crypto on [Binance](https://www.binance.com/).
In summary, while Bitcoin faces immediate hurdles, the path forward looks promising with high expectations for continued upward movement. For more insights into the cryptocurrency market, visit our detailed coverage at [Financier News](https://financier.news/category/crypto/).
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