Bitcoin Technical Resistance and Market Behavior

Bitcoin Technical Bitcoin Technical Resistance and Market Behavior

Bitcoin has recently failed to hold above the $106,000 resistance zone. According to Michaël van de Poppe, this level is key for maintaining upward momentum. His chart shows that Bitcoin’s latest rally was rejected quickly after testing the resistance, causing long-side liquidations. The price dropped to the $104,000–$105,000 region after the failed breakout.

Ali Martinez noted on X that $104,124 is now an important support level. If it fails, Bitcoin could drop to around $97,405. This aligns with past market behavior, where failed resistance tests triggered sudden corrections.

Earlier in June, a similar pattern occurred when Bitcoin was rejected at the same resistance level. It fell back toward $100,000, signaling strong overhead supply and weak follow-through from bulls.