Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
BTC Price Hits $103K: Analysts Eye Trap Zone Before Breakout to $140K

BTC Price Hits $103K: Analysts Eye Trap Zone Before Breakout to $140K

CryptonewslandCryptonewsland2025/05/09 20:55
By:by Vee Peninah
  • The pressure point on bitcoin is $103,890 as critical resistance, hinting the short term price turbulence before any durable rally.
  • Analysts have a warning on likely fakeouts that may interrupt bullish momentum and entrap late long entries.
  • The long-term goals are still bullish and cites $140,000 as the possible upside if major levels are maintained.

The latest price movement on Bitcoin has caught the attention of the market participants as the asset exploded above $103,000 in an aggressive upward move. Based on the reading of technical analysts tracing the current chart configuration, the increase in BTC positions it at the proximity of a critical resistance area noted as the “last area of defense for bears”. Despite this breakout, experts warn that market conditions may not be set for a clean continuation towards higher levels more in the short term with turbulence.

This is not the area to look for longs btw.

Likely get scammy PA in the coming week or two, chopping up the late longers and tricking people into giving up on the breakout.

Be patient – long dips, $140,000 is programmed IMO. #Bitcoin 

— Jelle (@CryptoJelleNL) May 9, 2025

Choppy Price Action Expected Before Further Upside

According to analysts of the Chart, the current price zone (between $103,000 and $106,000) might prove to be a significant region propitious to induce unpredictable price action. In the past, this region has been a supply zone where selling pressure continues to enter the market.

Traders are looking for potential fakeouts, which is also known as “scammy price action,” as sharp pullbacks or consolidation phases will take out momentum and shake out the late long positions. The prevailing sentiment among several observers is that this may be within the coming weekly to fortnightly period, as short-term optimism may be tested by sudden corrections or range-bound activity.

Support and Resistance Key to Short-Term Strategy

At present, Bitcoin is trading at approximately $103,337, reflecting a 4.0% increase over the last 24 hours.Analysts have identified support at $99,263.70 where there may be cushioning from any downside retracements.

 

 

The resistance remains strong at $103,890 just above the current price indicating a push from bullish continuation and bearish rejection. The traders are being cautioned against the impulsive kind of long entries at these highly elevated levels but rather to consider dip-buying strategies in the event that price recaptures more favorable support areas.

Long-Term Outlook Maintains Bullish Bias

Despite the cautious near term-market analysts expect a more favorable long term. Others see Bitcoin as paving the way for an extended rally, and it is being suggested that $140,000 could become a longer term target if accumulation persists and key resistance levels are decisively overcome. Nevertheless, such a projection depends on stability and sustained demand in the coming weeks.Seeing all this in summary current technical indicators signal possible volatility prior to further upside.

 

2

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Injective Launches $SBET, Tokenizing SharpLink Shares

Injective introduces $SBET, tokenizing SharpLink shares, marking a major step in digital asset treasury innovation.What Is $SBET and Why Does It Matter?Injective’s Vision for Tokenized Finance

Coinomedia2025/07/25 07:50

Trump Signals Rate Cuts After Powell Meeting

Trump expresses confidence that interest rates will fall soon, hinting at a market surge driven by retail momentum.Trump Hints at Coming Rate CutsWhy Lower Rates Matter for CryptoPerfect Timing for a Retail Comeback?

Coinomedia2025/07/25 07:50