Bitcoin maintains bullish momentum above its 50-week EMA, with traders watching a possible retracement toward the $90K–$95K Fair Value Gap.
Analysts identify strong support near $104K and resistance around $111K–$118K, signaling consolidation before Bitcoin’s next decisive market move.
BlackRock’s $500M Bitcoin sale triggers short-term volatility, yet institutional activity indicates continued engagement and long-term market participation.
Bitcoin trades near $105K as BlackRock sells $500M in BTC ahead of Trump’s speech. Analysts note strong support at $104K and potential short-term correction, while institutional activity keeps market momentum intact.
Structure Shows Bullish Momentum with Potential Correction
According to analyst Crypto Patel on X, Bitcoin continues to maintain a bullish market structure after a weekly candle closed above the 50-week EMA, confirming ongoing strength in the broader uptrend.
Patel explained that the chart still shows an unfilled Fair Value Gap (FVG) between $90,000 and $95,000. This range could attract price movement in a healthy market retracement before continuation higher.
#Bitcoin bulls keep control once again $BTC closed the Weekly Candle above key support and the EMA50: Critical Bullish Structure.
As long as BTC holds above the 50EMA, Momentum remains strong with unfilled FVG below fueling liquidity buildup. pic.twitter.com/rD0C3RHLSZ
— Crypto Patel (@CryptoPatel) November 11, 2025
Historical patterns suggest that when Bitcoin retraces toward the moving average, buyers often step in.The analyst noted that previous FVG fills have led to renewed upward momentum.
As long as Bitcoin holds above the 50EMA, the bullish bias remains intact, though a temporary dip toward the FVG zone may occur before a move beyond $120,000 in the next cycle.
Analysts Identify Key Resistance and Support Levels
Analyst TedPillows shared a technical outlook noting that Bitcoin faced rejection near the $107,000–$108,000 resistance range. The next crucial support stands around $104,000, aligning with an existing CME gap and it could attract short-term price action.
$BTC got rejected from the $107,000-$108,000 resistance level.
The next key support for Bitcoin is around $104,000 which also has a CME gap.
Usually, Bitcoin bottoms on Tuesday, which means we could see a CME gap fill followed by a bounce. pic.twitter.com/Te723iLosx
— Ted (@TedPillows) November 11, 2025
If Bitcoin drops below $99,000, it could test deeper support at $93,000 and $89,000 , while holding above support could push it towards $111,000 and $118,000 if momentum sustains .
Institutional Movements Add Pressure to Short-Term Price Action
Reports emerged that BlackRock began selling portions of its Bitcoin holdings ahead of former President Trump’s speech. The firm sold about 4,400 BTC, worth roughly $500 million, with sales continuing every hour.
BREAKING
BLACKROCK JUST STARTED DUMPING BITCOIN AHEAD OF TRUMP'S SPEECH TODAY.
THEY SOLD 4,400 $BTC WORTH $500 MILLION AND KEEP SELLING MORE EVERY HOUR.
WHAT’S GOING ON?? pic.twitter.com/o8iHcvnrl1
— 0xNobler (@CryptoNobler) November 11, 2025
Bitcoin fell from $107,100 to $105,000, a 1.2% intraday drop, while trading volumes stayed high at over 2.3 billion USDT. Large transfers of 285–291 BTC each suggest portfolio adjustments, not panic selling.
If Bitcoin holds above $104,000–$105,000, it may stabilize and then attempt another breakout. Overall, the market remains cautiously bullish .
