Bitcoin Price Drops to $102,000 Today: Falling Wedge Pattern Forms, Could BTC Reach $120K?

Jakarta, Pintu News – Bitcoin (BTC) price briefly traded above $105,000 after a week of consolidation. The crypto market is showing signs of recovery, with major assets such as Ethereum (ETH), XRP (XRP), and Dogecoin (DOGE) also looking to bounce back.

The planned reopening of the US government is creating a more risk-averse market sentiment. This condition has the potential to trigger short-term volatility in Bitcoin, especially ahead of the release of some important economic data. Market participants are watching for potential price movements that lead to an uptrend.

Then, how will the Bitcoin price move today?

Bitcoin Price Drops 0.77% in 24 Hours

On November 13, 2025, Bitcoin was priced at $102,096, or approximately IDR 1,716,735,920, reflecting a 0.77% correction over the past 24 hours. During this period, BTC reached a low of IDR 1,698,616,781 and a high of IDR 1,768,347,379.

At the time of writing, Bitcoin’s market capitalization is around IDR 34,083 trillion, with a 4% increase in trading volume over the past 24 hours, now reaching IDR 1,125 trillion.

Read also: JPMorgan Officially Launches ‘JPM Coin’, a Blockchain-Based Institutional Transfer Solution

US House votes to end longest government shutdown in history

The US House of Representatives will hold a vote at 7pm ET today to end the longest government shutdown in US history. A bill approved by the Senate to reopen the government will be considered by legislators, which President Donald Trump said was a major victory.

The bill will be discussed in the Republican-controlled House, where House Speaker Mike Johnson may face difficulties due to potential travel delays resulting from the government shutdown.

The vote comes after a legislative recess of nearly two months; the last time the House convened was on September 19. Johnson, who has been cross-examined by the Democratic side for his sabbatical, blamed the Senate for the state of affairs.

Nonetheless, the US government shutdown has taken its toll, with government employees going unpaid, flight delays, and food aid benefits running out. The government shutdown is now in its 43rd day, and legislators are back at work to resolve the crisis.

Bitcoin price forms a falling wedge pattern, analysts predict $120,000

According to crypto analysts, Bitcoin price is currently forming a Falling Wedge pattern on the 4-hour chart. This technical structure suggests that Bitcoin may be stuck in a wedge pattern for the next few days, with a possible breakout next week.

Read also: Bitcoin (BTC) Faces Recovery Hurdles, Will it Break?

If the breakout is successful, a sharp surge in Bitcoin price could occur, possibly reaching the $120,000 level. Traders are now closely monitoring the signs of this upward trend, which could signal a major change in the market.

Will BTC Price Hold at $105,000 Support Level?

The price of BTC surged to $105,045, registering a gain of 0.52% on November 12. Despite a slight decline, the cryptocurrency continues to hold near the critical $105,000 mark.

For Bitcoin to continue its rise, the key resistance lies at $105,000, as BTC’s long-term projection is bullish. A breakout above this point could push the price towards $110,000, with the next resistance level being at $115,000.

On the other hand, if the price fails to hold above $104,000, there is a possibility of a price reversal towards $100,000.

The MACD indicator gives a mixed view. The MACD line is higher than the signal line, which usually indicates a bullish market trend. However, the histogram is in the negative zone, which indicates a mild decline in momentum.

The RSI index stands at 48, which indicates a neutral position. This indicates that Bitcoin’s price movements are fairly balanced with no overbought or oversold conditions.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Coingape. Bitcoin Price Eyes Fresh Rally as U.S. Government Reopening Sparks Risk-On Mood. Accessed on November 13, 2025