Bitcoin is once again nearing the $100,000 mark, stirring excitement among crypto enthusiasts. However, despite this optimistic surge, several technical signals suggest that this milestone may not be as promising as it appears on TradingView charts.
The 20-week moving average—which also represents the midpoint of the Bollinger Bands—is currently positioned at exactly $100,000 per Bitcoin. At first glance, this seems like a natural breakout point.
Yet the reality is less encouraging: since October, Bitcoin has struggled to surpass this resistance level. Now it faces renewed tests marked by heightened volatility and diminished trading volumes.
Adding to concerns are two significant weekly moving averages—the 23-week and 50-week—that are converging toward a potential death cross near this same price threshold. Unlike short-term crossovers, such an event is rare and carries strong implications for long-term market direction. Should this death cross materialize fully, Bitcoin could remain below six figures far longer than bullish investors anticipate.
Bitcoin Faces Triple Resistance
A closer look at daily charts reveals yet another obstacle: the 200-day moving average hovering just above $99,000. This creates a formidable triple-layer resistance barrier that compresses price movement tightly within these levels.
While many traders eagerly position themselves for a breakout targeting $107,000 or even higher towards post-ETF expectations around $124,000, historical patterns caution us against expecting an easy breakthrough. The initial test of Bollinger Band’s midline following corrections often proves challenging—and frequently unsuccessful.
Bitcoin might still manage to break through these barriers; however, if it does so, it will likely be in defiance of established trend lines rather than because they support its rise.