Bitcoin bulls seem to be losing grip on the recent weekly momentum following a failed breakout that briefly brought the asset within striking distance of its all-time high.
Bitcoin bulls seem to be losing grip on the recent weekly momentum following a failed breakout that briefly brought the asset within striking distance of its all-time high.
Over the weekend, Bitcoin broke out of a 10-day tight consolidation range, rallying to a Sunday high of $106,700. The breakout was backed by a notable uptick in volume and price support from both the 20 and 50 4-hour exponential moving averages. This move helped Bitcoin record a sixth straight bullish week, an impressive show of strength in recent trend performance.
The momentum extended into Monday, May 19, as Bitcoin touched a new monthly high of $107,150. That put the price less than 2% away from its all-time peak at $109,300. However, this bullish stretch quickly faded. Sellers stepped in early during the Monday session, dragging Bitcoin back into the same range it broke out from. As of the European session, Bitcoin is now trading below both the 20 and 50 4-hour EMAs and sits just under the previous day’s low near $102,600.
Bitcoin short-term trend weakens but daily RSI still signals longer-term strength
Bitcoin price sharp reversal has shifted the 4-hour RSI into bearish territory, a key sign that short-term momentum has weakened. That said, the base of the previous range, around $100,700, now serves as a critical level. It not only acted as prior support during consolidation but also aligns with the 100 EMA of the 4Hr chart.
BTC price dynamics (April - May 2025). Source: TradingView
Still, the broader trend remains constructive. The daily RSI has held within bullish territory despite Monday’s decline, indicating that the longer-term outlook is not yet damaged. If buyers defend the $100,700 area, a fresh rebound could be staged. Otherwise, a failure to hold this level might expose Bitcoin to further losses, potentially targeting the round-number support at $100,000.
In essence, Bitcoin’s rally stumbled just before a major milestone, and the current price reaction is testing the strength of underlying support levels. Whether this is a healthy pause or the start of a deeper retracement will depend on how price behaves around the $100,700 to $100,000 zone in the coming hours.
Bitcoin stalled near $100,700 after a sharp multi-week rally from $74,500. RSI turned bullish as price held above the $100,000 psychological level.
