Bitcoin bulls must Flip $106K to push BTC price toward new highs
The post Bitcoin bulls must Flip $106K to push BTC price toward new highs appeared on BitcoinEthereumNews.com.
Key takeaways: 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. Related: Bitcoin downside risk lingers, upside hinges on holding above $102K MN Capital founder Michael van de Poppe spotted Bitcoin hovering at $104,400, saying that after being rejected from the $106,000 level, BTC may drop lower to take the liquidity between $100,000 and $103,000. An accompanying chart shows $100,000 as the key level to watch on BTC’s four-hour time frame. Losing this level would see traders look for entry positions below $100,000. Van de Poppe added: “The second region is sub-$100K, which I find less likely.” BTC/USD four-hour chart. Source: Michael van de Poppe Pseudonymous analyst CrypNuevo shared a chart showing Bitcoin “looking good” as it holds above $100,000 after successfully retesting it on June 6. “All we need is this support level to hold, and to flip $106,000 into support to push the price higher,” the trader said. BTC/USD daily chart. Source: CrypNuevo As reported by Cointelegraph, the $100,000 level is an important psychological boundary with implications for sentiment should it fail to hold. Liquidation clusters pop up above $106,000 Several traders eye…
Filed under: News - @ June 18, 2025 6:26 pm