Bitcoin Bounces From $100,000 — Bullish Reversal Or Another Trap?

Bitcoin (BTC) recently bounced from the $100,000 level, sparking hopes of a bullish reversal. However, traders remain cautious, as this rebound could also be a temporary bull ￰0￱ key resistance looming around $105,000–$106,000, the market’s next move will be critical in determining whether BTC can sustain an upward trend or resume its downtrend. A Possible Bullish Reversal After Reclaiming $102,000 According to Lennaert Snyder, Bitcoin is showing early signs of a potential bullish ￰1￱ the post on X, Snyder highlighted that BTC bounced from the recent lows and reclaimed the $102,000 level, signaling renewed buying ￰2￱ recovery comes after a period of weakness, suggesting that the market may be attempting to stabilize before the next major ￰3￱ Reading: Why The Bitcoin Price Crash Is Important If Wave 5 Corrects To $94,000 Snyder emphasized the importance of maintaining this momentum and establishing a higher low around $101,400, which would push the bullish scenario into a more sustained rally.

Conversely, a failure to maintain support here could indicate lingering bearish pressure, so this level is critical for gauging market ￰4￱ the meantime, the expert is closely monitoring lower time frame charts for potential scalp-long opportunities if a reversal occurs near $101,400. This tactical approach allows active traders to capitalize on short-term swings while waiting for confirmation of a broader bullish ￰5￱ resistance remains at $104,700, which will be a decisive level for determining the next leg of the move. A successful breakout above this resistance could open the path toward $107,500, signaling that bulls are regaining control. However, given that it’s the weekend, Snyder cautioned that traders should be prepared for sudden swings or false breakouts as liquidity tends to be lower during this ￰6￱ Reclaims Momentum, But $105,000–$106,000 Holds The Key In his latest update, market expert and investor Ted Pillows noted that Bitcoin briefly dropped below the $100,000 mark before bouncing ￰7￱ short-lived dip highlights ongoing uncertainty and the tug-of-war between buyers and sellers at key psychological ￰8￱ Reading: CryptoQuant Head Reveals Reason Behind Bearish Bitcoin Trend However, Ted cautioned that this rebound feels like a potential bull ￰9￱ the price recovered quickly, the underlying momentum may still favor the bears, suggesting that traders should remain vigilant before assuming a sustained upward ￰10￱ emphasized that until Bitcoin can reclaim the $105,000–$106,000 zone, the probability of further downside remains ￰11￱ a confirmed break above this critical resistance area, the market could continue to support levels as low as $93,394, keeping the short-term outlook skewed toward a possible ￰12￱ image from Getty Images, chart from ￰13￱