#BTCDipOrRebound

Bitcoin Faces Key Resistance at $106K, While $85K Retest Remains Possible

Crypto traders are eyeing $106,000 as a critical level for Bitcoin (BTC) to confirm its next bullish leg, with some warning that a drop to $85,000 remains on the table if current support fails.

Pseudonymous trader Pentoshi believes a move back to $106K would lead to a new round of price discovery, allowing BTC to break beyond its all-time high of $109,000 set in January. However, if Bitcoin breaks below the $92,000-$94,000 support zone, the next major support sits at $85,000, a level not seen since November 2024.

Is a Bitcoin Pullback to $85K or Even Lower Possible?

Bitcoin is currently trading at $96,340, according to CoinMarketCap data, with traders divided over its next move.

Crypto analyst AlejandroBTC recently noted that Bitcoin’s current trajectory "kinda looks like we’re heading for $85K."

Arthur Hayes, co-founder of BitMEX, has an even more bearish outlook, predicting BTC could drop