Bitcoin’s sustained recovery from April lows faces significant headwinds as technical indicators suggest potential exhaustion in its bullish momentum. Analysis of the Bollinger Bands reveals a ‘three pushes’ pattern emerging since April, typically signaling weakening upward pressure as the asset tests resistance levels.
Key resistance near the $110,000 price level appears increasingly formidable, with substantial ask orders capping gains amid heightened market volatility. While persistent institutional demand continues to provide underlying support for Bitcoin, analysts caution this factor alone may prove insufficient to overcome current technical barriers.
Geopolitical uncertainties, including escalating US-China trade tensions, compound market risks and threaten to undermine Bitcoin’s near-term price trajectory. The ongoing narrowing of Bollinger Bands further indicates a potential transition toward market consolidation or reversal, prompting investors to closely monitor volatility metrics and macroeconomic developments.