Bitcoin Price Stability Tested Around $108K Resistance
Crypto analysts are closely monitoring a potential Bitcoin pullback to around $104,000, which historical patterns suggest could precede the next bullish phase. The 50-week simple moving average (SMA), a critical long-term support level, currently stands near $102,500, according to TradingView data.
This SMA has acted as a strong support four times since the bull market started in mid-2023 and is expected to be tested again soon. Analyst ‘Sykodelic’ noted, “I know it’s not what any holder wants to hear, but very likely we take that out.” He added, “The market always feels the worst right before it reverses.”
Previous significant tests of this level occurred in April 2025 when Bitcoin dropped to $74,000, and in August 2024 during a crash to $49,000. Another analyst, “Negentropic,” echoed this bearish view, describing the current phase as “the final flush,” though with “less intensive profit taking” compared to September’s correction.
Support Levels and Market Correction
Negentropic further commented that the setup “opens the door to $102,000,” signaling a possible larger reversal. Nick Ruck, director at LVRG Research, shared that Bitcoin “may retrace to $104,000 as part of a healthy market correction, driven by profit-taking and macroeconomic uncertainties.” Despite this, he emphasized that “underlying fundamentals and institutional interest remain robust, setting the stage for a strong resumption of the bull market.”
Additionally, analyst ‘Daan Crypto Trades’ pointed to the 200-day exponential moving average as a key support area during this cycle. He observed, “There has been some chop around it during uncertain times, but in the end price never lost the trend for more than a month.”
Bitcoin Faces Resistance Near $108,000
Over the past 24 hours, Bitcoin has remained relatively stable around the $108,000 level—a key zone that has shifted from support to resistance. After briefly spiking to $113,000 on Tuesday, BTC quickly retraced to $107,000 and has since consolidated near the resistance area.
