๐ #bitcoin Update โ Whatโs Next After the 4H Rejection?
๐ 28 May | Price: ~$107.5K
After testing 111.9K as a local top, Bitcoin has slipped back under pressure, currently hovering near 107.5K. Letโs break down whatโs happening ๐
๐ธ 4H Chart:
The 4H candle wicked into 107.2K support, held, but the bounce is still weak.
๐ก RSI ~40 โ Weak buying pressure
๐ป Stoch RSI and MACD show momentum is still bearish
โก๏ธ If BTC breaks below 107K again with volume, we may see a drop toward 104.2K โ 101.2K
๐ธ 1D Chart:
Price is slowing under the EMA7 resistance, and indicators are turning sideways.
MACD remains bearish and Stoch RSI is bottoming โ could be gearing for a move, but no confirmation yet.
๐ This is still a cooling-off phase after the big rally.
๐ธ 1W Chart:
Macro still bullish. RSI >70 and MACD rising.
We are just consolidating below resistance. If bulls hold above 106K, structure remains strong.
๐ฏ Short-Term Levels:
โข Support: 107.2K, 104.2K, 101.2K
โข Resistance: 108.9K, 109.9K, 111.9K (major)
๐ก My Take:
No long entry here unless we flip 108.9K clean with volume.
โ Market still in play but donโt rush in. Let the price give you clarity.
๐ Drop your thoughts โ bull or bear next?
