Bitcoin’s failure to break above the key $100,000 level has triggered a pullback, with buyers now expected to step in at lower prices. Despite this resistance, U.S.-based spot Bitcoin ETFs recorded massive inflows of $3.38 billion last week, according to crypto tracking platform SoSoValue. Another big player, MicroStrategy, added to the momentum, acquiring 55,000 Bitcoin for $5.4 billion between Nov. 18 and Nov. 24 at an average price of $97,862.

This latest purchase brings MicroStrategy’s total holdings to a staggering 386,700 Bitcoin. However, traders should tread carefully. The repeated inability to break through the $100,000 resistance, even with significant ETF inflows and MicroStrategy’s buying spree, might encourage short-term bulls to lock in profits. This could deepen the pullback as profit-taking accelerates.

Bitcoin is seeing profit-taking by short-term bulls, which has pushed the price down to the uptrend line. If the price rebounds strongly from this level, it would indicate that bulls are still buying the dips. In that case, they will likely make another attempt to push the BTC/USDT pair past the $100,000 barrier.

If successful, the rally could gain momentum, driving the pair toward $113,331 and potentially $125,000. On the flip side, if the uptrend line fails to hold, BTC could slide to the 20-day EMA at $89,213. This level is critical for the bulls to defend, as a breakdown here could pull the pair further down to $85,000. Ether, meanwhile, turned lower after failing to break above the downtrend line on Nov. 23.

However, the bulls quickly bought the dip, signaling strength. Buyers are once again attempting to push ETH above the downtrend line, which would signal a potential trend reversal. If they succeed, the ETH/USDT pair could climb to $3,900 and then test the $4,094 resistance zone. Sellers are expected to mount a strong defense in this area. On the downside, the 20-day EMA at $3,141 is the key support to watch. A decisive break below this level would suggest that bulls are losing control. In that scenario, the pair could fall to the breakout level at $2,850.

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