In the past five weeks, Bitcoin 
$77,690 has surged by 38% from $75,000 to reach $106,000, with intense sell orders at the $105,000 level expected to dictate the short-term direction. Experts note that in the model known as “staircase rise,” the price initially peaks through a vertical movement before stabilizing sideways. This helps create new support levels while maintaining the buyer-seller balance. A review of the order books reveals a selling pressure of $50 million around $104,800 and $70 million at $105,000. If these sell blocks diminish, the upward momentum might accelerate.
The Strengthening Impact of the Staircase Rise Model
Starting from a dip at $75,000 in early April, Bitcoin first moved sideways within the $83,000-$85,000 band. As participants adjusted their orders in this narrow range, the trading volume slowed, offering new buyers a chance to consolidate. The subsequent climb created similar congestion between $92,000 and $96,000. These brief pauses at each step raised the long-term support lines and provided sellers with the necessary liquidity for profit-taking.
As of May 10, the new balance point has been established between $101,000 and $105,000. Although volume sometimes contracts here, the liquidation of short positions keeps volatility alive. Market experts highlight that as the price approaches the upper band, volume increases, while during declines, large wallets make purchases. This behavior indicates strong demand during consolidation. Technical indicators show that the weekly RSI hasn’t yet entered the overbought zone, emphasizing the ongoing upward momentum.
Intensified Selling Pressure at the $105,000 Wall
Data from Kiyotaka.ai, which analyzes exchanges such as Binance, Coinbase, and OKX, identifies a massive $120 million sell block trapped between $104,800 and $105,000. Most of these orders reflect the profit-locking intentions of investors who opened positions at previous steps. Sellers automatically initiate sales upon reaching their minimum set price, slowing the rise as a “wall” forms. The gradual dissolution of this barrier is seen as crucial for unblocking the trend’s path forward.
On the macroeconomic front, expectations that the Federal Reserve will end its rate hike cycle support global risk appetite. This optimism is accompanied by the influx of institutional money into spot Bitcoin ETFs. On the technical front, the 100-day moving average trend is positive, with OBV data indicating that buyers still dominate. Analysts suggest that once buyers absorb liquidity, a “free space” above $105,000 will emerge, potentially propelling the rally to fresh records. The sale wall isn’t expected to be permanent, and once resistance is breached, momentum could direct toward $112,000, then the psychological barrier at $120,000.
