Bitcoin’s Push Toward $108,500 Keeps Stalling — But the Chart Still Favors a Breakout
Bitcoin is trading near $92,500 after a steady move higher, and the broader structure still points toward a potential run to $108,500. The inverse head-and-shoulders pattern remains intact, yet every attempt to push through the key resistance has faded. Two factors continue to hold $BTC
back — and both can still shift.
The first hurdle is the neckline around $93,700.
Price has tapped this level multiple times, but without a strong daily close above it, buyers can’t activate the full breakout. This line remains the defining barrier for bulls.
The second factor is whale behavior.
Large holders have been reducing exposure since late November, keeping their numbers near monthly lows. When price rises while whales stay cautious, momentum struggles to build — and recent pullbacks reflect that hesitation.
Even so, the setup isn’t broken — it’s tightening.
Short positions across major pairs remain significantly higher than longs, creating a strong potential for a squeeze. If Bitcoin manages to close above $93,700, forced liquidations could carry it through $94,600 and open the path toward higher targets. Once momentum starts building, whales often re-enter and strengthen the move.
Above $93,700 and $94,600, the roadway opens toward $105,200 and eventually the full target near $108,500.
The pattern remains valid as long as Bitcoin stays above $83,800.
Two barriers — resistance and cautious whales — are slowing the breakout, but neither is permanent. A clean close above $93,700 could change everything.
