Bitcoin price today is trading around $102,300 as the cryptocurrency faces heightened volatility following a brief selloff below $101,000 and a modest recovery. Despite the rebound, signs of slowing momentum are building as BTC struggles beneath its recent peak of $105,787.
As the 4-hour chart rolls over, Bitcoin price action shows that BTC is still above its 20 and 50 EMA lines—currently at $102,822 and $100,890 respectively—suggesting that bulls still have near-term control. However, the Relative Strength Index (RSI) has slipped to 49, approaching neutral territory after forming a lower high. This indicates that buying pressure is cooling, even as price attempts to stabilize above key moving averages.
On the 1-day chart, BTC has retested and rejected the critical $105,000 resistance zone twice. This area has historically served as a ceiling for bullish continuation, and without a strong catalyst, further upside may be limited. The price is also trading below the Fib 1.0 extension ($109,396), further capping gains.
Zooming into intraday sentiment, the 30-minute chart highlights increasing Bitcoin price volatility, with sharp swings between $101,000 and $103,000 forming a triangle structure. The RSI on this timeframe has dipped below 50, while MACD remains in bearish territory, with a weak crossover signal still struggling to confirm upward momentum.
This near-term indecision is consistent with broader signs of exhaustion. The 4-hour RSI peaked on May 10 and has since declined, indicating divergence even as prices rose to new local highs. Moreover, on the 30-minute trendline chart, BTC is forming a symmetrical triangle bounded by resistance at $104,548 and support around $101,035—setting the stage for a breakout or breakdown as early as May 14.
Unless BTC decisively reclaims $104,000–$105,000 with strong volume, the risk of a drop to $101,000 or even the $98,000–$100,000 support band remains elevated.
The most immediate support lies near $101,000, followed by a stronger base between $98,000 and $100,000 as indicated by EMA confluence and horizontal structure. On the flip side, a clean break above $104,500 would reopen the path to retest $105,700 and possibly $107,000.
From a broader trend perspective, the weekly Fibonacci chart shows BTC is still respecting the 0.618 retracement level near $96,727, suggesting macro bullish sentiment remains intact. But the resistance near $109,396 remains the long-term hurdle.
Given the combination of mixed RSI, bearish MACD signals, and rejection from key resistance, traders should remain cautious. Expect heightened Bitcoin price volatility heading into May 14, especially as BTC tests the triangle boundaries.
