Bitcoin remains mired in a bearish trend as price action struggles below key moving averages—the 50-day, 100-day, and 200-day—all of which point to sustained downside pressure. On the higher timeframes, a clear descending trendline from the April–May highs remains firmly intact, reinforcing the macro downtrend.
The Relative Strength Index (RSI) continues to hover in the neutral-to-lower zones, with recent bounces still failing to cross bullish thresholds. A short-term relief rally emerged post-news volatility, with price attempting to retest the supply zone between $103.9K and $104K—a region of confluence with bearish Fibonacci levels and previous order blocks.
However, rejection at this level could set the stage for a further breakdown, targeting the $96.3K–$95.5K range. In the 1-hour and 4-hour timeframes, Fibonacci retracements and a climbing RSI suggest short-term relief is plausible, but a lower high formation would confirm continued bearish control.
BTC remains technically vulnerable despite short-term bounces, while geopolitical events and U.S. policy narratives shape market sentiment. Yet behind the volatility, continued ETF inflows, stablecoin stability, and altcoin resilience signal a market that, while cautious, remains fundamentally engaged.
Traders and investors alike should stay focused on key resistance levels for BTC, monitor developments in Middle Eastern tensions and U.S. crypto policy, and watch ETF and stablecoin flows as barometers of broader market conviction.
The Relative Strength Index (RSI) continues to hover in the neutral-to-lower zones, with recent bounces still failing to cross bullish thresholds. A short-term relief rally emerged post-news volatility, with price attempting to retest the supply zone between $103.9K and $104K—a region of confluence with bearish Fibonacci levels and previous order blocks.
However, rejection at this level could set the stage for a further breakdown, targeting the $96.3K–$95.5K range. In the 1-hour and 4-hour timeframes, Fibonacci retracements and a climbing RSI suggest short-term relief is plausible, but a lower high formation would confirm continued bearish control.
BTC remains technically vulnerable despite short-term bounces, while geopolitical events and U.S. policy narratives shape market sentiment. Yet behind the volatility, continued ETF inflows, stablecoin stability, and altcoin resilience signal a market that, while cautious, remains fundamentally engaged.
Traders and investors alike should stay focused on key resistance levels for BTC, monitor developments in Middle Eastern tensions and U.S. crypto policy, and watch ETF and stablecoin flows as barometers of broader market conviction.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.