Bitcoin faces resistance at $107,000, fluctuates between $101,000 and $106,000, remains bullish structure

From Yahoo Finance: 2025-05-21 09:26:00

Bitcoin faced resistance at $107,000, retreating to trade between $101,000 and $106,000. A surge occurred after futures markets opened, despite index futures dropping due to Moody’s US credit downgrade. Bitcoin’s correlation with traditional markets during such events varies, with support zones at $103,000, $100,678, $95,800-$97,300, and $93,548 crucial for bullish structure.

The recent pullback from $107,000 may signal a temporary consolidation or a more substantial correction. Monitoring trading volume and momentum indicators is essential. Holding above $93,548 is crucial for maintaining the bullish narrative in 2025. Profit-taking after a substantial rally since April and institutional investors seeking entry opportunities could influence market movements.

While short-term volatility is expected, the higher timeframe bullish structure remains as long as Bitcoin stays above the yearly open. Watching for buying interest at identified support levels and monitoring trading volume patterns are key for traders.



Read more at Yahoo Finance: How Long Can Crypto Hold Strong Against Moody’s US Downgrade?