Bitcoin Approaches $100,000, But Here's Why That May Be A Bull Trap

Benzinga01-16

Bitcoin (CRYPTO: BTC) is slowly pushing up to $100,000, but traders warn the zone offers little clarity on near-term bullish or bearish direction.Bitcoin’s Key Price ZonesAnalyzing on-chain data, ...

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According to Snow, the move occurred largely because resistance was thin, not because of underlying strength.The $100,000 area, by contrast, is described as a dense liquidity zone where both long and short positions are frequently trapped. Snow characterized it as a control area designed to generate choppy price action, false breakouts, and stop hunts.Snow outlined several key price zones shaping the current market structure:\n$98,000–$102,000: The primary \"magnet\" zone, where price is repeatedly drawn back, producing consolidation, fake breakouts, and heightened volatility.\n$103,000–$106,000: A heavy resistance ceiling where rallies often stall with sharp rejections. This scenario is considered the most bullish but least likely in the near term.\n$94,000–$95,000: A critical support area acting as a trapdoor. Holding this zone keeps price stable, while a breakdown risks rapid downside movement.\n$92,000–$90,000: A potential air pocket if support fails, with $89,000–$88,000 marking the last major historical support zone.\nSnow emphasized that the recent rally should not be mistaken for strength, but rather a reflection of limited resistance below. What Bitcoin Traders Should Look Out ForAs Bitcoin approaches $100,000, resistance is no longer a single level but a broader system designed to contain price and extract liquidity, often misleading traders about the market's true direction.Snow said the most likely short-term outcome is consolidation around the $100,000 level, with price rotating inside the magnet zone through repeated failed breakouts and bought dips. This environment tends to frustrate traders and increase losses from whipsaw price action.When Bitcoin eventually breaks out of this range, Snow expects the move to be sharp and decisive. Based on current structure, he noted that a downside break appears easier to achieve than a sustained upside breakout.Image: Shutterstock$BTCBitcoin$94556.90-1.09%OverviewMarket News and Data brought to you by Benzinga APIs© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.0","shortVersion":"4.36.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2604997072","isCrawlerRequest":true}