Bull or bear? Today’s $106k retest could decide Bitcoin’s fate
Bitcoin's fate hinges on whether it can hold the critical $106,400 pivot level, which has historically acted as a major resistance and support.Summary
The price action of Bitcoin across the current cycle has consistently revolved around the $106,400 level, which acts as a crucial pivot point, serving as both resistance and support.
Since December 2024, the price has repeatedly tested this level. Initially, breaking above it led to retests that failed, causing pullbacks. By May 2025, the dynamic flipped, with $106,400 acting as a floor until it eventually broke, leading to a grind lower. After reclaiming the level in June, Bitcoin advanced to its cycle high of $126,000.
Currently, as of early November 2025, Bitcoin is facing its eighth test of $106,400 since hitting the peak. While previous tests after the high resulted in immediate bounces toward $110,000–$115,000, the repeated failure to hold this level for sustained periods suggests rising risk. This level is considered the cycle’s balance point; acceptance above it signals a move to upper clusters ($107,800 to $110,500), while failure returns focus to downside liquidity around $103,800 to $105,500.
(Source：CryptoSlate)