Bitcoin (BTC) Price Today Stalls Near Overhead Resistance, But Bulls Remain in Control

The Bitcoin price today is trading near $111,100 after briefly surging to a local high of $111,825. This recent breakout came on the back of strong bullish momentum

The Bitcoin price today is trading in a familiar consolidation zone above the May breakout. BTC/USD is testing the $111,800 spike high as it flounders to close decisively above the first major price barrier after reclaiming $110K.

The cryptocurrency price action has entered a holding pattern after a sustained upward push from the $102,000–$106,000 zone. The 4-hour chart shows BTC trading along the upper band of the Bollinger envelope, with candles struggling to close decisively above $111,800.

The 20, 50, and 100 EMAs are stacked in bullish alignment below price, with the 20-EMA offering immediate support near $107,300. The 200-EMA continues to track around $98,700, underscoring the longer-term bullish structure.

The Bollinger Bands are widening on the 4-hour timeframe, signaling increased Bitcoin price volatility. The current pause above the mid-May breakout zone could be a breather before a renewed move.

Why Is Bitcoin Price Going Down Today?

The question of why Bitcoin price is going down today —albeit mildly— can be attributed to short-term exhaustion seen on lower timeframes. The 30-minute RSI has rolled over from the overbought 70+ zone and now reads around 64.7. This cooling off reflects waning bullish pressure as BTC tests the $111K handle without fresh volume.

The MACD histogram, while still in positive territory, is starting to flatten, hinting at slowing upside momentum. The latest Bitcoin price update also shows Stochastic RSI making a bearish cross below the 80 mark, another signal of short-term weakening.

Despite this intraday hesitation, the broader structure remains bullish as long as BTC holds above the $109,800 support.

On the daily chart, Bitcoin price has broken out of a prolonged consolidation wedge and is now targeting the $114,000–$115,000 region, which aligns with the next major Fibonacci extension levels. This area will be critical to assess whether bulls can sustain the rally or whether a retest of the previous breakout zone is in store.

Volume remains strong on the breakout candles, but follow-through buying will be key. Chande Momentum Oscillator is currently at 41.0, suggesting positive pressure but not extreme bullishness yet. Traders should watch for a decisive break above $111,800 with volume to validate this rally.

The immediate resistance lies at $111,800. A successful breakout above this level could open doors to $114,000, followed by the $118,000 zone if momentum persists.

However, failure to break higher could lead to a pullback toward the $109,800 support, with $106,700 acting as a deeper confluence zone supported by horizontal and EMA layers.

The RSI, Bollinger Band dynamics, and MACD momentum suggest that BTC is approaching a volatility inflection point. Traders should prepare for larger moves in either direction depending on how price reacts around the $111,800 resistance in the next 12–24 hours.

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