Bitcoin Order Book Standoff: BTC Faces Tug-of-War Around $108K
Bitcoin continues its tight dance between bullish ambition and selling pressure, as it closes a volatile string of sessions just beneath the key psychological resistance at $110,000.
Despite a resilient price structure, technical indicators and order book dynamics reflect a market unsure of its next definitive move.
Momentum Slows, but Bitcoin Bulls Maintain an Edge
The recent upward momentum in Bitcoin is beginning to show signs of hesitation. The 9-day and 20-day exponential moving averages have maintained a healthy upward slope, suggesting that short-term trend bias still leans bullish. However, the slowing rate of acceleration indicates that BTC may be approaching an exhaustion point unless a significant catalyst arrives.
The MACD histogram has been decreasing over the past few sessions, which is often a sign of waning bullish momentum. While the MACD line remains above the signal line—a bullish structure—its shrinking distance suggests traders are beginning to scale back expectations of explosive upside moves in the immediate term.
Daily chart for WBTC/USD (Source: GeckoTerminal)
RSI readings remain balanced in the mid-50s to low 60s, implying a market that’s neither overbought nor oversold. This neutral momentum supports the idea that BTC could still swing either direction based on how the Bitcoin price reacts at current levels of support and resistance.
Support and Resistance in Focus
BTC is now trading just shy of a significant resistance zone at $110,274, with further overhead resistance waiting at $111,696. These levels will likely be hard to overcome without strong buying volume or a sentiment catalyst. Conversely, on the downside, BTC has support at $105,681, followed by deeper zones at $103,985 and $101,508. These are levels to watch closely if sentiment turns bearish.
Bitcoin Order Book Walls Suggest Standoff Between Buyers and Sellers
On the order book front, notable bid walls are set around $108,012.50 and $107,910. A break below these walls could open the door to a small but psychologically significant dip, with roughly 0.12–0.13% downside risk. These levels are being defended with substantial buy-side liquidity (over $1 million), signaling that bulls are prepared to fight to maintain current levels.
| Type | Price Level (USDT) | Size (BTC) | Value (Approx. USDT) | Impact if Broken |
|---|---|---|---|---|
| BID | 108,012.50 | 10 | 1,080,125 | -0.03% |
| BID | 107,910.00 | 10 | 1,079,100 | -0.12% |
| BID | 107,900.00 | 6 | 686,590 | -0.13% |
| ASK | 108,041.40 | 3 | 322,862 | +0.00% |
| ASK | 108,159.47 | 2 | 218,314 | +0.11% |
| ASK | 108,189.01 | 2 | 243,852 | +0.14% |
On the flip side, ask walls between $108,041 and $108,189 are relatively thin. Clearing these could create short-term bursts of upward momentum, but gains would be modest—just about 0.1%—unless broader resistance near $110K breaks cleanly. This creates a narrow trading window for scalpers and momentum traders alike.
Trading Strategy: Potential Long and Short Setups
For long traders, a clean breakout above the $110,274 resistance zone with follow-through volume could trigger a move toward $111,696. Entry on a confirmed breakout with a tight stop below $108,000 may be prudent, especially if the bid wall defense remains intact.
For short traders, the fading momentum and persistent rejection near resistance suggest a possible pullback. A breakdown below $107,900, particularly if the bid walls fail, could open a move toward $105,681. In that scenario, short entries below the bid wall with stops above $108,200 might offer a favorable risk-reward setup.
Conclusion
Bitcoin’s current setup suggests a market at a crossroads. While bullish structures are still intact, momentum is weakening, and key resistance levels are pressuring the price. Order book activity shows heavy defenses on both sides, making the next few sessions critical for determining direction. Traders should remain cautious and responsive to price action around the $108K–$110K corridor.
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Disclaimer:The information presented in this article is for informational and educational purposes only. It does not constitute financial advice. Ecoinimist is not responsible for any losses incurred.Readers should exercise caution before acting on this content.
