- Bitcoin bulls remain in control, targeting a breakout above the key $104,900 resistance level.
- Technical signals and consistent price structure point to continued bullish momentum above $101,000.
- Strong ETF inflows, led by BlackRock’s IBIT, support rising institutional demand and price strength.
Bitcoin is currently trading around $103,830 as bulls retain control of the market. The price has consistently held above the $100,000 mark for over a week, showing stability and strength. Market participants are now closely watching the $104,900 resistance level as the next critical breakout point.
Price Structure Supports Bullish Continuation
According to analysis prepared by Daan Crypto on X, Bitcoin has repeated a clear pattern since April—moving up, consolidating tightly, then continuing higher. This structure is currently being observed again, with BTC holding firm above the $103,200 support and the 100-hourly Simple Moving Average.
Recently, the price traded above the $103,950 trendline resistance and crossed the 50% Fibonacci retracement from $104,980 to $101,441. Immediate resistance sits near $104,150, followed by the key zone at $104,900. A confirmed break above $104,900 could open the path to $106,500 and $108,000 in the near term.
Technical indicators support this move. The MACD is gaining momentum in the bullish zone, while the RSI remains above 50. These signals suggest continued control by buyers as long as price holds above $101,000.
Institutional Momentum and ETF Inflows Drive Market Strength
According to data from CoinGecko, Bitcoin traded in a narrow 0.5% range on May 15 but closed above $100,000 for the seventh consecutive day. Institutional interest remains steady, helping to form strong support clusters above the psychological level.
ETF inflows have added to the momentum. According to Farside data, spot Bitcoin ETFs saw $319.5 million in inflows on May 14, with BlackRock’s IBIT recording $232.9 million. These flows continue to fuel upward price movement as market sentiment remains constructive.
Bulls now aim to break $104,900 to confirm the bullish setup. A clear move above this level could signal the beginning of a new all-time high run.
