Bitcoin Holds Key Support Near $105K: Is $111K Level the Next Target?

Bitcoin holds $105K support as analysts eye a breakout above $111K with strong macro signals.

Technicals show BTC may rebound if $108K breaks, supported by key RSI and MACD levels.

Whale profit-taking slows, while liquidity gaps near $102K–$97K could fuel Bitcoin’s next rally.

Bitcoin (BTC) is currently trading at $105,771.77, down from its recent all-time high of $111,970 reached on May 22. Despite the pullback, analysts say BTC may be forming a base for another move upward. While sentiment appears mixed, market watchers point to technical zones and macro trends that could trap bearish traders and fuel a return above $110K.

Technical Patterns Show BTC May Be Gearing for a Rebound

According to an observation by Titan of Crypto, Bitcoin may be preparing to retest a key level of previous resistance now acting as support. This structure, if confirmed, could offer a strong foundation for the next upward push. The $102,000 to $108,000 zone is currently viewed as critical for near-term direction

Source: TitanOfCrypto(X)

On the daily chart, indicators point to weakening short-term momentum, with the RSI trending near 56 and MACD printing red histogram bars. However, if Bitcoin holds the current range without re-entering the prior bearish structure, analysts expect a renewed upward push

Source: MerlijnTheTrader(X)

A daily close above $108,000 may open the door to a retest of the $111,980 high. Merlijn The Trader stated on X that Bitcoin is “following the script,” retesting key levels as global liquidity dipped. He suggested that the current movement is not a crash, but rather “a second chance” for long-term investors.

Whale Activity and Macro Support Set the Stage

Santiment data shows a noticeable decline in holdings among larger BTC wallets during the May rally. Addresses holding between 10–100 BTC, 1,000–10,000 BTC, and 100,000–1 million BTC have reduced their balances, likely locking in profits. While this has added short-term selling pressure, it may also create room for renewed buying.

Meanwhile, traders are watching liquidity zones on the BTC/USDT chart, with fair value gaps (FVG) around $102,315 and $97,732. A retest of the $100,000 psychological level is still possible, but analysts believe filling the FVG could support the next leg up.

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