After Briefly Testing $107,700, Bitcoin (BTC) Price Today is Trading Around $106,650

After briefly testing $107,700, the Bitcoin price today is trading around $106,650, slipping into mild consolidation as momentum indicators turn mixed.

Bitcoin price today is trading around $106,650 after briefly testing $107,700, slipping into mild consolidation as momentum indicators turn mixed. Following a strong surge earlier in May, bulls are now showing hesitation near a historically critical supply zone between $107,000 and $108,000. The market is watching closely to see whether Bitcoin price can hold above $106,000 or whether another correction is brewing.

This cooling phase comes after a breakout from $101,500–$102,000 support levels, driven by bullish sentiment across equities and broader crypto markets. But as the price approaches overbought regions, traders are questioning: Why Bitcoin price going down today despite strong weekly performance?

What’s Happening With Bitcoin’s Price?

On the 4-hour chart, Bitcoin price action reveals a strong uptrend still intact, with candles consistently closing above the 20-EMA ($105,447) and 50-EMA ($104,200). However, the latest pullback from the $107,777 peak shows signs of short-term weakness.

Notably, Bollinger Bands are beginning to compress, with the upper band flattening near $107,700, hinting at a potential volatility squeeze ahead.

Meanwhile, RSI has slipped from overbought levels to 48.08, reflecting a loss in momentum without confirming a full bearish reversal. MACD also shows fading bullishness, with the histogram turning red and the signal line crossing above the MACD line — a classic early warning of cooling momentum.

In short, while the broader trend remains bullish, the intraday setup indicates hesitation.

Short-Term Resistance Holds As Bulls Struggle At $107K

The 30-minute structure shows Bitcoin price spikes losing strength each time BTC tests above $107,500. This level has now emerged as a key resistance zone. Trendline rejection is visible, with price struggling to sustain above this barrier and forming lower highs near the upper red supply block.

On the Ichimoku Cloud, Bitcoin remains above the cloud but Tenkan-Sen and Kijun-Sen are flat — a sign of indecision. The Stoch RSI has also dropped below 5, signaling short-term oversold conditions, but without reversal confirmation.

Unless bulls regain control with volume above $107,200, Bitcoin price update suggests a retest of $105,100–$104,800 support could be next.

Why Bitcoin Price Going Down Today? Bearish Divergence Builds

The question of why Bitcoin price going down today can be traced to multiple bearish divergences emerging on lower timeframes. The RSI on both 30-minute and 4-hour charts is forming lower highs while price attempts higher highs — a warning sign that upside may be limited without a momentum reset.

Additionally, MACD is now in a bearish crossover with a weakening histogram. The last push toward $107,700 failed to bring in sufficient buying pressure, despite favorable macro sentiment. This hints at profit-taking rather than sustained bullish conviction.

The ascending support trendline remains intact for now, but any breakdown below $105,100 could accelerate selling toward $103,800 or even the psychological $102,500 zone.

Bitcoin Price Forecast For May 22

Looking ahead, if bulls can hold $105,100 and reclaim $107,000 with a confirmed breakout, the path opens toward $108,600 and possibly $110,000. However, failure to break above resistance — especially amid declining RSI and bearish MACD — could result in a steeper correction.

The daily chart shows the long-term structure remains bullish. Bitcoin continues to trend above all key EMAs, with the 200-EMA sitting comfortably near $98,000 — well below the current price. Thus, the pullbacks are still corrective in nature unless critical support levels break.

As compression increases, traders should prepare for increased Bitcoin price volatility in the coming sessions, especially with narrowing bands and a triangle breakout structure forming on intraday charts.

BTC Technical Forecast Table: May 22

While the trend remains bullish on higher timeframes, short-term momentum is clearly weakening. Traders should watch for a decisive move above $107,200 or a break below $105,000 to confirm the next leg. Until then, the Bitcoin price today may continue consolidating in a tight range as bulls and bears battle for control.

The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice