May 19, 2025 – The Bitcoin price chart lit up over the weekend with a powerful weekly close above $107,000 — the highest in BTC history — but the bulls were dealt a blow as momentum faded quickly. Monday opened with a sharp rejection from the $107K level, pushing the BTC/USD pair back to $103,200 at the time of writing, triggering renewed speculation on whether a larger correction could be underway.
Weekly Close at All-Time High – But Immediate Reversal Shocks Traders
Bitcoin’s weekly candle closed above all prior highs on Sunday, setting a new record weekly close and extending BTC’s parabolic rally from the $88,000 zone just two weeks ago. This was confirmed by analysts as a major technical breakout, especially given that it came on above-average volume and broke multi-week resistance.
Source: Tradingview
However, as highlighted by trader Crypto Rover on X, Bitcoin has failed to break through the most important horizontal resistance. In a post shared early this morning, he emphasized the $107K–$108K rejection zone as critical — one that has now triggered a local top unless buyers reclaim momentum quickly.
Daily Bitcoin Price Chart Shows Weak Follow-Through
Looking at the daily chart, today’s price action paints a more cautious picture. BTC formed a strong daily candle on Saturday but left a long upper wick on Sunday, and is now forming a full-body red candle on Monday — down over 3% intraday.
Source: Tradingview
This bearish daily reversal near the ATH zone may indicate an exhaustion move, especially considering the lack of follow-through volume. Should Bitcoin fall below the $101,000 zone, technical support lies next around $97,800, followed by $94,500, where the previous accumulation range sits.
Macro Context Still Bullish — Just Cooling Off?
Despite the near-term rejection, macro sentiment remains extremely bullish:
- Long-term holders are still accumulating at near-record levels.
- BlackRock and other institutions continue pouring funds into spot ETFs.
- Bitcoin dominance remains stable above 63%, suggesting capital hasn’t aggressively rotated out.
The weekly uptrend remains intact, and some analysts argue that a pullback here could be healthy, allowing the market to consolidate before another leg higher.
Final Thoughts: Bull Trap or Healthy Reset?
Bitcoin’s inability to hold above $107K is disappointing for short-term bulls but doesn’t invalidate the broader trend. This week’s price action will likely be critical in determining whether we’re witnessing a bull trap or simply a reset before another surge.
For now, all eyes remain on whether BTC can defend $100K support and reclaim the weekly highs — or whether this local top turns into a longer cooldown.
