Bitcoin Drops Again After Failed Recovery — $100K Support Now in Focus

Overview

Bitcoin’s price has experienced a significant decline after failing to recover above a key resistance level. The cryptocurrency is currently trading below critical support levels, raising concerns about its future price movements.

Recent Price Movements

Bitcoin’s price was unable to rise above $105,000, which has led to a trimming of gains and a potential continuation of the downward trend if it trades below $101,200. The latest decline began after Bitcoin failed to surpass the $105,500 mark, resulting in a drop below both $105,000 and $104,000. This movement has placed Bitcoin below the 100 hourly Simple Moving Average, indicating a bearish trend.

A bearish trend line is forming with resistance at $103,300 on the hourly chart of the BTC/USD pair. If Bitcoin settles below the $101,200 zone, further declines could ensue. The last swing high was noted at $107,400 before the price began its current downward trajectory.

Support and Resistance Levels

Bitcoin’s price has dipped below the 61.8% Fibonacci retracement level of the recent upward movement from the $99,220 swing low to the $107,400 high. Currently, the cryptocurrency is trading below $104,000 and the 100 hourly Simple Moving Average.

If Bitcoin attempts another recovery, it might encounter resistance near the $102,500 level, with key resistance levels identified at $103,250 and $103,500. A close above $103,500 could possibly lead to further upward movement, potentially testing the $105,000 resistance.

Conversely, if Bitcoin does not rise above the $103,500 resistance zone, it could face additional declines. Immediate support is positioned near $101,200, along with the 76.4% Fibonacci retracement level. Major support levels are located at $100,500 and the $100,000 zone. A further drop could see Bitcoin approaching the $98,800 support level, with the main support at $96,500, below which the price could decline more sharply.

Impact on the crypto market

• Bitcoin’s inability to maintain gains above $105,000 signals bearish sentiment among traders.
• The formation of a bearish trend line suggests further resistance ahead for any recovery attempts.
• Key support levels are now under scrutiny, particularly the $101,200 and $100,000 marks.
• A continuation of the downward trend could influence other cryptocurrencies negatively.
• The current price action reflects increased volatility and uncertainty in the market.

Updated: 11/13/2025, 3:17:47 AM