According to CoinDesk Research’s technical analysis data model, Bitcoin BTC$101,307.41 It pulled back from recent highs on Tuesday, falling from $103,413 to $101,775 as the world’s largest cryptocurrency fell below a key resistance level at $102,000. The 1.24% decline unfolded on tepid volume, just 2.11% above the 7-day average, suggesting cautious market participation despite being close to the key psychological support level of $100,000.
Selling pressure intensified at 15:00 GUMTMT as buyers failed to maintain momentum above $105,200, with 27,579 BTC traded, 189% above the 24-hour moving average. This breakdown from the session high of $105,342 confirmed strong overhead resistance and Bitcoin struggling to advance above the uptrend line from the overnight lows.
The 60-minute data shows a shaky recovery attempt, with Bitcoin bouncing from $101,625 to $102,154 before stalling around current levels. This rally generated peak volume between 17:37 and 17:40 UTC, representing the strongest buying interest of the session, but momentum faltered at the $102,000 barrier.
Testing defensive positioning and support
Institutional investor Dan Tapiello predicts a $180,000 target while warning of a possible 70% correction, and sophisticated money is building protective positions through derivatives markets. The December 2025 $98,000 put is up 43% in open interest, and the March 2026 $80,000 put is up 31%, indicating a portfolio hedge rather than an outright bearish bet.
Options activity reflects risk management as Bitcoin hovers above $100,000. This defensive position is consistent with the technical chart showing the approach to Bitcoin’s 365-day moving average. This was historically strong support ahead of a 66% crash when it was broken in mid-2022.
Key technical levels indicate range-bound movement in BTC
Support/Resistance: Major support remains at $101,625 from Tuesday’s low, with major psychological support at $100,000. After the heavy selloff reached its climax, resistance was confirmed at the $105,200 to $105,340 zone.
Volume analysis: A peak sale volume of 27,579 BTC at 15:00 UTC signaled a collapse of the session, but a subsequent attempt at recovery with lighter volume suggests consolidation rather than directional certainty.
Chart pattern: Bitcoin broke below the uptrend line from its overnight low and recorded consecutive lows since its rejection at 1 p.m. Price movement showed trading within a range between $101,700 and $102,000.
Goals and risks/rewards: The next upside price objective lies at $102,150, the resistance level from Tuesday’s recovery peak. Downside risks extend towards the psychological support at $100,000, with a potential deeper pullback towards $92,000 if a major level is broken.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance with standards. For more information, please see CoinDesk’s complete AI policy.
