Bitcoin is holding close to the $104,00Zero help degree after dealing with rejection on the $107,000–$108,00Zero resistance zone, as merchants look ahead to a possible MACD bullish crossover that would sign a short-term rebound.
With an unfilled CME hole close to $104Ok and rising institutional curiosity by Bitcoin ETFs like BlackRock and Constancy, analysts say a confirmed breakout above $108Ok might ignite a recent rally towards greater targets.
Bitcoin Value Motion: Testing the $104Ok Zone
Bitcoin (BTC) is presently consolidating across the $104,00Zero mark after dealing with rejection close to the $107,000–$108,000 resistance zone earlier this week. The decline comes as a part of a short-term pullback following a powerful rally that pushed the cryptocurrency to recent native highs.
Bitcoin assessments the $104Ok help and CME hole after a $108Ok rejection—merchants eye a traditional Tuesday bounce setup. Supply: @TedPillows by way of X
As of November 11, 2025, Bitcoin price today stands at roughly $104,342, down round 2% previously 24 hours, with a 24-hour buying and selling quantity exceeding $74 billion, in keeping with Courageous New Coin’s Bitcoin value index.
Technical analyst @TedPillows highlighted that “$BTC acquired rejected from the $107,000–$108,00Zero resistance degree. The subsequent key support for Bitcoin is round $104,000, which additionally has a CME hole.” The point out of a CME hole—a value distinction left on the Chicago Mercantile Alternate Bitcoin futures chart when markets reopen—has caught merchants’ consideration. Traditionally, greater than 80% of Bitcoin CME gaps are likely to fill inside a brief timeframe, hinting that the worth might take a look at this degree earlier than rebounding.
MACD Bullish Cross Approaching
Including to the cautiously optimistic outlook, standard crypto dealer @AshCrypto shared {that a} bullish MACD cross seems imminent on Bitcoin’s each day chart. The Transferring Common Convergence Divergence (MACD) indicator, which tracks momentum shifts, reveals the MACD line progressively approaching the sign line from under.
Bitcoin eyes a rebound as a possible MACD bullish crossover varieties close to the $104Ok help zone. Supply: @AshCrypto by way of X
In keeping with on-chain knowledge as of November 11, the MACD sits at -2330.86 versus a sign line at -2221.79, whereas the histogram has been narrowing from -755.46 on November 7 to -109.07, signaling fading bearish momentum. This sample usually precedes a pattern reversal or the beginning of a new upward phase.
CME Hole and Historic Context
The CME hole close to $104,00Zero stays a focus for merchants anticipating a technical correction earlier than any main transfer. CME gaps usually type over weekends as a result of 24/7 nature of crypto markets versus conventional buying and selling hours. Analysts have noticed that Bitcoin often revisits these ranges, a habits many merchants interpret as a possibility for re-entry or short-term positioning.
Nonetheless, whereas the so-called “Tuesday backside” sample—the place Bitcoin tends to rebound early within the week—has been cited by some market individuals, it lacks sturdy historic proof. The declare relies extra on latest cyclical traits than long-term knowledge. Nonetheless, short-term sentiment means that Bitcoin might see renewed shopping for stress if the CME hole fills efficiently and the worth stabilizes above help.
Technical Outlook: Resistance and Construction
Technical analyst MMBTtrader described the $108,00Zero degree as a “make-or-break zone” for Bitcoin, noting that it stays a big resistance space formed by a number of technical components. The extent marks a task reversal, shifting from a key support zone to a significant resistance level, whereas a descending trendline continues to cap upside momentum.
Bitcoin consolidates close to $107Ok–$108Ok resistance, with a breakout above $108Ok probably unlocking targets as much as $140Ok. Supply: MMBTtrader on TradingView
He added that Bitcoin can also be retesting a beforehand damaged bullish structure, which now acts as an overhead barrier. “A confirmed breakout above $108,00Zero would invalidate the present bearish stress and open the trail towards $120,000–$140,000,” he stated. Till that occurs, Bitcoin’s short-term construction stays impartial, with stable help established between $100,00Zero and $104,000.
Ultimate Ideas
The approaching days will probably be pivotal as merchants monitor whether or not Bitcoin fills the CME hole and confirms a MACD bullish crossover. A sustained transfer above $108,00Zero might set off renewed momentum, whereas a breakdown under $104,00Zero might invite additional testing of the $100,00Zero psychological degree.
Bitcoin (BTC) was buying and selling at round $104,342, down 2.00% within the final 24 hours at press time. Supply: Bitcoin Price by way of Brave New Coin
For now, Bitcoin stays in a fragile stability between short-term warning and medium-term optimism. As TradingView analyst MMBTtrader put it, “This consolidation section often is the market catching its breath earlier than the following main breakout.”
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