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The analyst in question, Ted Pillows, has over 240,000 followers on X (formerly Twitter) and describes himself as a survivor of two Bitcoin 4-year cycles. Now, the entire crypto cycle and supercycle theories are under scrutiny, and it remains to be seen whether they are still relevant, as this is the first time the market has been so volatile and unpredictable for the bulls.
Ted tweeted:
“$BTC is holding above the $100,000 level for now.
The Coinbase Bitcoin premium is still deeply negative, which shows a lack of demand.
 
Until BTC closes a strong daily candle above the $106,000 level, expect new lows.”
He followed this tweet with this insightful graph:
The influencer’s tweet suggests that if the current situation persists, the premier cryptocurrency may fall below the key $100k support level and rebound off the $93k support level. However, there is also a chance that it will continue to languish between the $100k-$106k price range for the time being.
Only a strong bullish candle above the $106k resistance level can make its mark on the proceedings and attempt to change the current short-term bearish outlook of the market. That bit is quite clear based on the current understanding of the price analysis.
One X follower replied to his thread:
“markets looks to be very low on liquid right now due to the government shutdown.
If Bitcoin should test $108K then that’s a confirmation that’ll wee see more upside.”
The Future
Bitcoin’s 2025 saga is nearing its end, and with it, the bulls are running out of time to turn things around and salvage something out of it. The longer BTC stays below the key support-turned resistance levels, the harder it will be for the bulls to make a significant move.
The current US government shutdown has indeed cast a dark cloud over the already strained proceedings, but there may be hope for an 11th-hour rally if the political deadlock nears its end.
Source: https://zycrypto.com/expect-new-lows-if-bitcoin-remains-under-106000-analyst/