In the latest Bitcoin trading update from analyst CrypNuevo, BTC has successfully hit the $105.5k liquidation level and extended to the $106.5k resistance zone, marking a significant milestone in its upward momentum. This development aligns with ongoing market dynamics where Bitcoin continues to test higher resistances amid increased volatility. Traders are now eyeing a potential retrace followed by continuation, which could present lucrative trading opportunities for those positioned correctly. As Bitcoin price action unfolds, understanding these key levels becomes crucial for navigating the crypto market effectively.

Bitcoin Price Hits Key Resistance and Liquidation Levels

According to CrypNuevo's analysis shared on November 10, 2025, Bitcoin achieved a critical extension to $106.5k after triggering liquidations at $105.5k, showcasing strong bullish pressure in the short term. This move reflects the market's response to recent pumps, particularly during Asian trading sessions, where liquidity often drives rapid price shifts. For traders focusing on BTC USD pairs, this resistance test at $106.5k serves as a pivotal point, potentially signaling overextension if not supported by sustained buying volume. Historical data indicates that such extensions frequently lead to retracements, allowing savvy investors to capitalize on dips before the next leg up.

Delving deeper into the technicals, the analyst highlights a possible drop to the low $104k range, where multiple confluences align for support. This includes a small CME gap, a retest of the 1-hour 50-period Exponential Moving Average (EMA), previous range highs, and the retrace from the Asian pump. These elements create a robust support cluster, ideal for bounce plays in Bitcoin trading strategies. For instance, if BTC retraces to around $104,200 as of the latest charts, it could coincide with the 1h50EMA at approximately 10:00 UTC on November 10, 2025, offering a high-probability entry for long positions. Traders should monitor on-chain metrics like trading volume, which spiked to over 150,000 BTC in the last 24 hours across major exchanges, indicating heightened interest.

Trading Opportunities in BTC Retrace and Continuation

From a trading perspective, this setup suggests a classic retrace-to-continuation pattern, where Bitcoin price could pull back to fill the CME gap around $104,500, last observed in futures data from the previous session. This confluence with the 1h50EMA retest enhances the area's attractiveness for dip buyers. Experienced traders might look to enter longs here, targeting a retest of $106.5k or higher, potentially aiming for $108k if bullish momentum resumes. Risk management is key; setting stop-losses below $103,800 could protect against deeper corrections, especially if global market sentiment shifts due to macroeconomic factors.

Broader market implications tie into this analysis, as Bitcoin's performance often influences altcoins and stock market correlations. For example, if BTC holds above $104k, it could bolster confidence in ETH BTC pairs, where Ethereum might see sympathetic gains. Institutional flows, as tracked in recent reports, show increased Bitcoin ETF inflows exceeding $2 billion in the past week, supporting the bullish case. However, traders should watch for resistance breaks; a failure at $106.5k might lead to cascading liquidations, pushing prices toward $102k support levels. Overall, this update underscores the importance of technical confluences in cryptocurrency trading, providing actionable insights for both short-term scalpers and long-term holders.

To optimize trading decisions, consider integrating tools like RSI and MACD indicators. Currently, the 1-hour RSI hovers around 65, suggesting room for upward movement post-retrace, while MACD shows a bullish crossover at 14:00 UTC. Volume analysis reveals a 15% increase in spot trading volumes compared to the previous day, reinforcing the potential for continuation. For those exploring Bitcoin options, implied volatility around these levels indicates premium opportunities for straddle strategies. In summary, CrypNuevo's insights highlight a dynamic phase for BTC, where retracing to $104k could set the stage for the next bullish wave, offering traders a chance to position ahead of potential breakouts in the evolving crypto landscape.