2 hours ago
Bitcoin maintained its November signifier of higher lows arsenic it rebounded to $105,000, but traders remained cautious of a imaginable rejection astatine cardinal resistance.
Bitcoin (BTC) eyed intraday highs into Wednesday’s Wall Street unfastened arsenic bulls battled for $105,000.
Key points:
Bitcoin creeps higher into the US trading league arsenic traders question $107,000 retest.
Opinions diverge connected whether terms tin reclaim that country arsenic support.
Binance withdrawals springiness investigation origin to enactment bullish connected the BTC terms outlook.
BTC/USD four-hour chart. Source: Cointelegraph/TradingViewAll eyes connected $107,000 BTC terms resistance
Data from Cointelegraph Markets Pro and TradingView showed BTC terms spot returning connected debased clip frames.
After filling the latest play “gap” successful CME Group’s Bitcoin futures market, BTC/USD took clip to found caller section lows earlier heading higher.
The determination preserved the signifier of higher lows successful play since Nov. 5, and comparative spot scale (RSI) information hinted astatine a bullish divergence connected the hourly chart.
BTC/USD one-hour illustration with RSI data. Source: Cointelegraph/TradingView
“Trending up connected the little timeframe. But needs to interruption that $107K area. If it tin bash so, it would crook this into a decent deviation and retake backmost into the range,” trader Daan Crypto Trades wrote successful a response connected X.
BTC/USDT perpetual declaration one-day chat. Source: Daan Crypto Trades/X
Fellow trader Crypto Tony suggested that the terms would not seal that absorption reclaim, and described $107,400 arsenic the “perfect abbreviated zone.”
Eyeing different failed reclaim, this clip of the bull marketplace enactment set formed by 2 moving averages, trader Luca saw “further terms consolidation” next.
“If the terms breaks beneath the purple enactment range, I’d look to hedge portion of my spot holdings to mitigate short-term downside risk, arsenic that would apt unfastened the doorway for a deeper pullback connected the low-timeframes,” helium told X followers alongside an explanatory chart.
BTC/USD one-day chart. Source: Luca/XBinance delivers “bullish signal” astatine $103,000
A much optimistic instrumentality connected the time came from onchain analytics level CryptoQuant.
Related: ‘Most hated bull tally ever?’ 5 things to cognize successful Bitcoin this week
Binance users, it noted, had begun to retreat important amounts of BTC, perchance signalling a caller “accumulation” phase.
“In aboriginal November, Binance recorded a abrupt spike successful Bitcoin withdrawal transactions — 1 of the largest surges successful 2025,” contributor XWIN Research Japan wrote successful 1 of CryptoQuant’s “Quicktake” blog posts.
“This question indicates a important displacement successful capitalist behaviour and offers invaluable clues astir existent marketplace sentiment.”
Binance BTC speech withdrawals (screenshot). Source: CryptoQuant
XWIN noted that the bulk of the withdrawals coincided with BTC terms hitting $103,000.
“Additionally, OTC table enactment accrued during this period, indicating backstage transfers to custodial wallets—another motion of organization participation,” it added.
“Overall, this spike should beryllium viewed arsenic a bullish signal.”This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.
English (US) 