Bitcoin price today is hovering around $103,400 after failing to sustain momentum above $105,000 earlier this week. Despite a strong recovery from $100,762, recent candles show indecision with tightening Bollinger Bands and flattening RSI. The current rangebound movement comes after a multi-week rally that saw Bitcoin price spikes toward $105,787, followed by sustained rejection near major Fibonacci resistance.
What’s Happening With Bitcoin’s Price?
The Bitcoin price action on the 1-day chart remains bullish from a macro lens, with the asset firmly above the March–April downtrend breakout. The latest weekly candle formed a long upper wick just below the 0.786 Fibonacci level at $104,929, indicating heavy supply pressure. This area near $105,000 has acted as a historical rejection zone and now caps further upside unless cleared decisively.
On the 4-hour chart, price remains inside a narrow consolidation triangle, with lower highs and slightly higher lows. This structure has developed just above the 50 EMA at $102,533, a critical dynamic support that must hold for bulls to maintain control. Any close below this cou…
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