PANews May 16 news, according to Kiyotaka.ai data, Bitcoin has recently risen from $75,000 to $104,000, showing a 'stair-step' upward trend. However, currently, bulls are facing about $120 million in sell order resistance at $104,800 and $105,000, which poses a major challenge for further increases. In the past month, Bitcoin has risen by 38%, but the current price fluctuates between $101,000 and $105,000, indicating that the market has entered a consolidation phase. Analysts believe that despite significant sell order pressure, technical indicators show that Bitcoin is still likely to break through resistance and set a new high.