Will Bitcoin (BTC) Bounce Back to All-Time Highs or Slip into a Pullback?

• Bitcoin is trading around the $105K range.
• The market has seen $214.31 million in BTC liquidations.

The crypto assets are in an uncertain state with their unclear price movement, with the market cap slipping over 2.91%, settled at $3.32 trillion. Bitcoin, the largest asset, after multiple recovery attempts, has reached the $105K mark. Notably, BTC has stepped into the greed zone as the Fear and Greed Index value holds steady at 60.

Bitcoin (BTC) is one of the trending coins today, which lost over 2.47% in the last 24 hours. In the early hours, the bulls pushed BTC to hit its daily high of $108,910, and later the bears took charge and triggered it to visit the low at around $104,684.

At press time, Bitcoin is trading within the $105,302 range, with the daily trading volume increasing by over 15.36%, reaching $58.56 billion. Furthermore, during this period, the market has experienced a 24-hour liquidation of $214.31 million worth of Bitcoin.

More Turbulence for Bitcoin or a Turnaround Ahead?

On the four-hour price chart, the BTC/USDT pair shows a bearish pattern, and a strong red candle has formed, fully immersed in a classic downtrend. The Moving Average Convergence Divergence (MACD) and signal line are settled below the zero line. It indicates a lingering negative momentum in the market. Also, the overall sentiment remains bearish unless the lines move back above zero.

*BTC chart (Source: TradingView)*Moreover, the Chaikin Money Flow (CMF) indicator remains negative, with the value at -0.05 suggesting a slight selling pressure in the market, and more money is flowing out of the asset than into it. Traders consider this as a cautious signal to watch for further downside or consolidation.

If the Bitcoin price paints a red-cautious picture, it could find its immediate support range at around $105,619, and further losses might apply additional pressure on the downside, it likely drives the asset’s price to the $105K mark or even lower

Assuming the asset is entering the green zone, hinting at a bullish signal. A jump to the $106K might rescind the negative momentum. A sturdy upside correction could trigger Bitcoin to revisit the $106.5K level, and if the uptrend continues, it may reclaim the ATH

Moreover, the daily relative strength index (RSI) found at 37.45 signals that the asset is in bearish territory, but not yet oversold. Notably, Bitcoin’s Bull Bear Power (BBP) reading of -2,392 points at a strong bearish momentum in the market

For deeper insights into where BTC could be headed, check out our Bitcoin (BTC) Price Prediction 2025, 2026-2030.

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