$BTC Price Watch: Bearish Signals Emerge Despite Bullish Trendline

BTC/USD 4H chart via Bitstamp on May 17, 2025.

The daily chart provides a broader context of bitcoin’s uptrend since late April, rising from approximately $82,784 to a high of $105,706. However, this macro bullish trend is now confronting signs of fatigue, with small-bodied candles and upper wicks pointing to indecision. A notable drop in volume near recent highs further signals a lack of strong buying conviction. The $96,000 to $98,000 zone serves as a structural support, while $105,700 remains a formidable resistance level that must be decisively broken to extend the uptrend.

Bitcoin Price Watch: Bearish Signals Emerge Despite Bullish Trendline

BTC/USD 1D chart via Bitstamp on May 17, 2025.

From a technical indicators standpoint, most oscillators including the relative strength index (RSI), Stochastic, commodity channel index (CCI), average directional index (ADX), and Awesome oscillator are showing neutral readings, suggesting a lack of strong momentum in either direction. Notably, the momentum and moving average convergence divergence (MACD) indicators are signaling sell conditions, aligning with short-term bearish patterns observed on lower timeframes.

Bull Verdict:

Bitcoin remains in a broader uptrend supported by strong positioning of its exponential moving averages, with the daily chart confirming higher macro structure since late April. If price maintains above the $100,500–$102,600 support zone and successfully breaks through the $105,700 resistance with volume confirmation, bullish continuation toward new highs remains firmly in play.

Bear Verdict:

Despite the macro uptrend, short- and medium-term charts reveal bearish momentum, declining volume on rallies, and resistance at $104,500–$105,700. Failure to reclaim these levels, coupled with a breakdown below $100,000, could trigger a deeper corrective phase and invalidate the short-term bullish setup.