After hitting $107k, Bitcoin $BTC retraced to ~$102,730. Traders are asking:
Is this just a healthy pullback — or the start of a bigger breakdown?
Let’s break it down 👇
🔹 Market Structure: Still Bullish
✅ Daily & 4H show higher highs and higher lows
✅ Price well above 50-day MA ($97,871)
✅ Weekly trend remains intact
No structural breakdown confirmed.
🔹 Key Levels to Watch
Support:
• $102,000 (psychological)
• $101,200–$101,500 (liquidation zone, $123.7M)
Resistance:
• $104,500 → $106,400
• $107,200–$107,500 (liquidation zone, $166.7M)
🔹 Indicators & Volume
📊 RSI:
• Daily = 62.72 (neutral)
• 4H = 43.87 (neutral)
📉 MACD:
• Daily = Bearish
• 4H = Bullish
📉 Volume: No panic spike = no capitulation
🔹 On-Chain & Sentiment
💰 110,000 BTC ($11.5B) withdrawn from exchanges → bullish
🐋 Whale movement limited — no major dumps
💹 ETF outflow: $96M last week
📈 Funding rates slightly positive
😐 Sentiment: Neutral to mildly bullish
🔹 Macro Outlook
🗓️ Upcoming events:
• May 20 – RBA rate decision
• May 21 – UK CPI
• May 22 – US PMI
No major catalyst behind the drop = likely technical-driven
✅ Final Verdict
This dip looks like a normal correction, not a reversal.
As long as BTC holds above $101.2K–$102K, the uptrend is healthy.
Break $104.5K again, and the next target is $107K–$110K.
Trade smart. Don’t get shaken out by noise.
