- Bitcoin faces strong buying near $102,500–$103,000 after 1,000–2,000 BTC shorts rolled over quickly.
- Bullish divergence reappears on the 4-hour chart, last triggered a surge to $111,800 in May.
- A 5.5% breakout from $103,500 could propel BTC to new highs above $110,000–$115,000.
Bitcoin is tightly consolidating around $105,000 after repeated failures to breach the $110,000 resistance. Despite the sideways movement, momentum is subtly shifting beneath the surface. Bitcoin recently experienced a fresh wave of selling pressure, with 1,000 to 2,000 BTC used to short the price into the $103,000 range.
Analyst noted that many of these short positions were quickly rolled over as bids filled aggressively between $103,000 and $102,500, indicating strong buying interest around this level. Large-scale buyers have been observed aggressively chasing price on both the spot and perpetual markets. The presence of strong buying around the $100K mark could act as a solid foundation for an upward move.
Bitcoin Eyes Breakout Amid Bullish Divergence
Crypto analyst Luca highlighted the return of a bullish divergence on the 4-hour timeframe, a setup that previously preceded Bitcoin’s surge to its May 22 high of $111,800. This indicator now appears again, signaling the possibility of another strong upward breakout in the coming days.
Bullish divergences, especially on mid-timeframe charts like the 4-hour, are known to precede sharp reversals when paired with increasing volume. Currently, Bitcoin’s RSI is climbing while price hovers slightly lower, hinting at a hidden accumulation phase. This could be the calm before a renewed parabolic advance.
If the divergence mirrors April’s performance, BTC could be preparing to reclaim and surpass its previous peak. A breakout of just 5.5% from current levels would place BTC at a new all-time high. Given the historical strength of such setups, a surge toward or beyond $110,000 is within reach.
Also Read: Bitcoin Surges Past $105,000 as Market Awaits Breakout Confirmation
All Eyes on $110K: Rally Ahead?
Even though in the short term, Bitcoin’s rise is still restricted, the technical indicators are indicating that the momentum for growth is on the rise. The last time this divergence happened, BTC gained 50% in a few days. At the moment, a similar move would take prices up to a level well beyond the $110,000 mark.
A similar move now would send prices well above the $110,000 mark, potentially reaching $115,000 in an aggressive scenario. As of the moment, the worth of Bitcoin is $103,500, signaling a 1.4% reduction within a single day. However, this decline may be deceptive, as underlying signals show bullish intent.
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