According to CoinDesk Research’s technical analysis data model, Bitcoin pulled back from recent highs on Tuesday, sliding from $103,413 to $101,775 as the world’s largest cryptocurrency consolidated below key resistance at $102,000. The 1.24% decline came on tepid volume, just 2.11% above the seven-day averages, signaling cautious market participation despite being near the critical psychological support level of $100,000.
Selling pressure intensified at 15:00 GUMMTT when 27,579 BTC was traded – 189% above the 24-hour moving average – as buyers failed to maintain momentum above $105,200. This breakout from the session high of $105,342 confirmed strong overhead resistance and Bitcoin’s difficulty in advancing beyond ascending trendlines from overnight lows.
Sixty-minute data shows volatile recovery attempts, with bitcoin bouncing from $101,625 to $102,154 before stalling near current levels. The rally generated a volume spike between 5:37 p.m. and 5:40 p.m. UTC, marking the strongest buying interest of the session, although momentum petered out at the $102,000 barrier.
Defensive positioning versus support testing
With institutional investor Dan Tapiero projecting a $180,000 target while warning of possible 70% corrections, sophisticated money is building protective positions via derivatives markets. December 2025 $98,000 puts jumped 43% in open interest, while March 2026 $80,000 puts gained 31%, indicating portfolio hedging rather than outright bearish bets.
Options activity reflects risk management, with bitcoin above $100,000. This defensive positioning coincides with technical charts showing Bitcoin approaching the 365-day moving average – historically strong support that, when broken in mid-2022, preceded a 66% crash.
Key Technical Levels Signal Limited Action for BTC
Support/Resistance: Primary support holds at $101,625 from Tuesday’s low, with major psychological support at $100,000. Resistance confirmed at the $105,200-$105,340 area after a high-volume selling climax.
Volume analysis: The peak selling volume of 27,579 BTC at 15:00 UTC marked the breakout of the session, while subsequent recovery attempts on lighter volume suggest consolidation rather than directional conviction.
Chart templates: Bitcoin fell below the ascending trendline from overnight lows, posting consecutive lower highs from the 1:00 p.m. rejection. The price action indicated a trading range between $101,700 and $102,000.
Targets and risk/reward: The next upside target lies at resistance at $102,150 from Tuesday’s recovery peak. Downside risk extends to psychological support of $100,000, with the potential for a larger pullback to $92,000 if the key level is broken.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial team for accuracy and compliance with our standards. For more information, see CoinDesk’s full AI policy.
