Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
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: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

2025 TGE Survival Ranking: Who Will Rise to the Top and Who Will Fall? Complete Grading of 30+ New Tokens, AVICI Dominates S+

The article analyzes the TGE performance of multiple blockchain projects, evaluating project performance using three dimensions: current price versus all-time high, time span, and liquidity-to-market cap ratio. Projects are then categorized into five grades: S, A, B, C, and D. Summary generated by Mars AI This summary was generated by the Mars AI model, and the accuracy and completeness of its content are still being iteratively updated.

MarsBit2025/11/28 16:26
2025 TGE Survival Ranking: Who Will Rise to the Top and Who Will Fall? Complete Grading of 30+ New Tokens, AVICI Dominates S+

Mars Finance | "Machi" increases long positions, profits exceed 10 million dollars, whale shorts 1,000 BTC

Russian households have invested 3.7 billion rubles in cryptocurrency derivatives, mainly dominated by a few large players. INTERPOL has listed cryptocurrency fraud as a global threat. Malicious Chrome extensions are stealing Solana funds. The UK has proposed new tax regulations for DeFi. Bitcoin surpasses $91,000. Summary generated by Mars AI. The accuracy and completeness of this summary are still being iteratively updated by the Mars AI model.

MarsBit2025/11/28 16:26
Mars Finance | "Machi" increases long positions, profits exceed 10 million dollars, whale shorts 1,000 BTC

How much is ETH really worth? Hashed provides 10 different valuation methods in one go

After taking a weighted average, the fair price of ETH exceeds $4,700.

ForesightNews 速递2025/11/28 15:05
How much is ETH really worth? Hashed provides 10 different valuation methods in one go

Dragonfly partner: Crypto has fallen into financial cynicism, and those valuing public blockchains with PE ratios have already lost

People tend to overestimate what can happen in two years, but underestimate what can happen in ten years.

深潮2025/11/28 14:53
Dragonfly partner: Crypto has fallen into financial cynicism, and those valuing public blockchains with PE ratios have already lost