Bitcoin Had a Wild Night: See What’s Propping Up This Rollercoaster Ride 🚀💸

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Once upon a Tuesday, Bitcoin threw itself above the $102,500 line with the bravado of a toddler on a sugar rush. Naturally, it’s now backtracking at speed—currently bobbing just below that mysterious $103,500 resistance zone, which is apparently made of some unknowable substance akin to kryptonite.

  • Like a caffeinated cat, Bitcoin leapt giddily past $102,500, defying several grandmothers and all basic market logic.
  • It’s now dawdling under $104,000 and the 100 hourly Simple Moving Average (which, for the record, is neither simple nor average).
  • Our hero then tripped and fell through a bullish trend line at $103,900. This happened live on the hourly BTC/USD chart, if you’re the sort of person who actually watches those things for fun.
  • But wait! Hope remains: If Bitcoin can vault $103,500 in a dazzling display of acrobatics, who knows what embarrassment it will avoid next?

Bitcoin Price Corrects Some Gains (Also, Gravity Exists)

Starting its day at the $98,500 support zone (because, where else?), Bitcoin constructed what market analysts call “a base,” perhaps out of Legos and ambition. With enough optimism to make a motivational speaker queasy, it blasted through the $100,000 ceiling and even loitered sentimentally around $103,000.

Not content, Bitcoin spiked above $105,500—testing $105,800 for reasons that cannot be explained using conventional physics. A high of $105,728 was reached, and then, as is tradition, the price immediately began sobering up. It skidded below the 23.6% Fibonacci retracement, which sounds impressive if you ignore the fact that Fibonacci never bought Bitcoin.

A trend line—new, bullish, full of potential—was breached at $103,900. So much for that. We now find ourselves lapping about under $104,500, miles beneath the steely gaze of the 100 hourly Simple Moving Average (and, let’s be honest, we’ve all been there).

Still, the bulls have formed a determined scrum near $100,800 and fiercely protect the 50% Fib retracement zone, like fans saving seats at a rock concert. Immediate resistance is found near $103,500; the first “key resistance” (no one says what these keys unlock) is at $104,000.

Bitcoin price chart in increasingly dramatic squiggles

Should our orange digital coin squeeze past $105,000, expect wild predictions, champagne, and possibly someone trying to sell you a podcast. The path could lead all the way to $106,000, and, if the universe is feeling especially mischievous, even $108,000.

More Losses Incoming? (Financial Sad Trombone Music)

But! If Bitcoin fails (again) to make friends with $103,500, we may see a slide that even the most optimistic YouTuber struggles to spin. Immediate support comes in at $101,500—basically the market’s equivalent of a bouncy castle. The $100,800 line looms below that, offering approximately as much reassurance as decaf coffee.

Should disaster strike, we’re looking at the $100,000 “psychological level,” the $98,800 “panic station,” and, the true seat of sadness, $97,500.

Technical indicators for those who like their news sprinkled with math:

  • Hourly MACD – Now apparently losing interest in bullishness, and who can blame it?
  • Hourly RSI – Slinking guiltily below the 50 mark, hoping no one notices.

Bastions of Support: $101,500 and $100,800 (Note: not legal tender).

Daunting Resistance Levels: $103,500 and $105,000 (where hope currently goes to die).

In short, Bitcoin’s having an existential crisis—but so is everyone else in 2025. 😅

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2025-05-13 05:59