Bitcoin (USD) is retesting key support levels. With a descending triangle pattern forming and the $100,000 level being watched, traders are monitoring the next big move. Is now the time to buy—or to pull back?
Bitcoin USD price is retesting an important zone
Bitcoin is currently trading at $104,781, hovering just above the 200 EMA line on the 4-hour chart at $104,861. The chart shows BTC consolidating within a clear descending triangle pattern, with lower highs forming resistance and a flat support area around $103,343. This setup often signals a continuation of the bearish trend unless a breakout occurs.
Adding to the caution, the Relative Strength Index (RSI) is around 45, showing neutral momentum with no clear bullish divergence. Momentum has been weakening over the past two weeks and price action remains weak near the lower edge of the triangle.
Bitcoin price prediction: Bearish collapse or unexpected reversal?
If Bitcoin (USD) fails to hold above $103,343, we may see a rapid decline towards the psychological support level of $100,000, marked by the clean green line on the chart. This level also aligns with the lower edge of the descending triangle and could serve as the last line of defense before a larger correction.
If the $100,000 level fails, the next potential support zone will be around $97,000 - $95,000, opening the possibility of retesting the April breakout level.
On the other hand, a strong recovery from the 200 EMA or a breakout above the upper trendline of the triangle (~ $107,000–$109,000) could invalidate the bearish setup. In that case, BTC could push up to retest $110K and aim for new highs above $112K.
Entry and exit setup for traders
Short setup (Bearish trend):
Entry: When analyzing below $103,300
Target 1: $100,000
Target 2: $97,000
Stop loss: $105,800
Long setup (Bullish scenario):
Entry: When confirming a breakout above $107,000 with high volume
Target 1: $109,000
Target 2: $112,000
Stop loss: $104,000