Bitcoin Price Hits $105k As Analysis Eyes ‘massive’ Binance Btc...

Bitcoin maintained its November pattern of higher lows as it rebounded to $105,000, but traders remained cautious about a potential rejection at key resistance.

Bitcoin (BTC) eyed intraday highs into Wednesday’s Wall Street open as bulls battled for $105,000.

Bitcoin creeps higher into the US trading session as traders seek $107,000 retest.

Opinions diverge on whether price can reclaim that area as support.

Binance withdrawals give analysis cause to stay bullish on the BTC price outlook.

Data from Cointelegraph Markets Pro and TradingView showed BTC price strength returning on low time frames.

After filling the latest weekend “gap” in CME Group’s Bitcoin futures market, BTC/USD took time to establish new local lows before heading higher.

The move preserved the pattern of higher lows in play since Nov. 5, and relative strength index (RSI) data hinted at a bullish divergence on the hourly chart.

“Trending up on the lower timeframe. But needs to break that $107K area. If it can do so, it would turn this into a decent deviation and retake back into the range,” trader Daan Crypto Trades wrote in a response on X.

Fellow trader Crypto Tony suggested that the price would not seal that resistance reclaim, and described $107,400 as the “perfect short zone.”

Source: CoinTelegraph