Bitcoin kicked off the week on a cautious note, dipping below $103,000 while traditional markets rallied. The S&P 500 and the US Dollar Index (DXY) both surged after the announcement of a US-China trade deal. Some traders think other risk assets are catching up to Bitcoin’s earlier gains, and the strength in the US dollar is putting short-term pressure on BTC.

Bitwise’s André Dragosch highlighted on X that their proprietary Bitcoin indicator has hit its highest level of the year, a signal that has previously led to short-term corrections or sideways price action. Despite the uncertain near-term outlook, long-term bulls remain unfazed. Michael Saylor’s MicroStrategy added 13,390 BTC between May 5 and May 11 at an average price just under $100K, bringing their total holdings to a massive 568,840 Bitcoin.

Bitcoin pulled back after hitting $105,819, showing that bears are stepping in to protect the key resistance zone between $107,000 and $109,588. The first major support is at the $100,000 mark, and below that, eyes are on the 20-day EMA, currently at $97,238. If BTC bounces off this support range, bulls will likely make another attempt to break through $109,588. A successful breakout above that could open the path for a run toward $130,000. But if the price slips below the 20-day EMA, it signals that traders are starting to take profits at higher levels, which could drag the BTC/USDT pair down to $93,000 and possibly even the 50-day SMA at $89,302.

Ether bulls are trying to hold the price above the $2,550 level, but bears are keeping the pressure on. If ETH drops below $2,435, a move down to $2,320 is likely. A bounce from $2,320 could set the stage for another push higher. If ETH breaks past the resistance at $2,850, the pair could make a run toward $3,000. On the other hand, if the price slips below $2,320, it could signal that bulls are exiting their positions and taking profits. That could send ETH down to the former breakout level at $2,111, where buyers may try to step in again.

Lastly please check out the advancement’s happening in the cryptocurrency world

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