After surged from the $90,000 level in April, Bitcoin prices today are around $104,000, showing signs of fatigue just below the $105,000 resistance zone. Daily charts suggest that BTC has moved to key supply areas that have previously caused sharp rejection, suggesting that buyers are becoming more cautious.
BTCUSD Price Dynamics (Source: TradingView)
The rally, which began with a breakout of over $95,000, faces significant resistance between $104,000 and $106,000, a zone marked by multiple historic rejections. At the time of writing, Bitcoin prices traded with mild losses, indicating -0.1% on the day, potential pause after a strong weekly move.
Bitcoin Price Action Recent Time: Key Indicators Show Differences
BTCUSD Price Dynamics (Source: TradingView)
On the 30-minute chart, BTC remains a structural rise, but is traded sideways with flat bias. The RSI is currently at 47.5 (just below the neutral 50 mark), indicating a bullish loss of momentum. Meanwhile, the MACD histogram is narrowing and hovering near the zero line, indicating a decline in momentum. This coincides with the lateral movement seen after May 10th.
The Bollinger band is compressed around the $104,000 zone, a common precursor for breakouts. However, candles show the formation of smaller bodies, reinforcing the lack of directional belief. This will increase the odds of volatility events over the next 24 hours.
BTCUSD Price Dynamics (Source: TradingView)
Furthermore, in the one-sided cloud of the 4H time frame, there is BTC trading above the cloud, with flat Tenkansen and Kijunsen lines, a classic signal of trend pause. If Bitcoin price volatility increases, the next breakout could be quick.
Why is Bitcoin price dropping today? Combat at $105K defines Outlook
Prices remain drawn between the short-term integration stage and strong macro-up trends. The 30-minute chart shows the tough range formed between $103,800 in support and $104,800 in resistance, with neither the bull nor the bear showing complete control.
BTCUSD Price Dynamics (Source: TradingView)
The Bitcoin price spikes at the beginning of the week were caused by a clean triangle breakout of over $101K, but recent candles failed to have a compelling closure at over 104.5K. If $103.5k is not retained, trendline corruption and volume signal suggests possible minor fixes if $103.5k is not retained.
However, there is no clear inversion pattern yet. The underlying structure continues to support buyers above the 200 EMA, which is close to $97,400 on the 4-hour chart. Failure to exceed $105,000 could trigger a test of a support band between $102,500 and $103,200.
Bitcoin price forecast for May 13th
BTCUSD Price Dynamics (Source: TradingView)
Looking ahead, if the Bulls pushed Bitcoin prices above $105,200 with volume checks, the next resistance would be $107,500 and then $110,000. A decisive breakout from this area could invite fresh, long positions.
On the downside, if today’s Bitcoin price loses its $103,000 handle, there’s likely a retracement to $101,500 and a breakout zone before $99,000. The main support the Bulls defend themselves remains at a psychological level of $10,000, which is consistent with multiple EMAs and Ichimoku support.
Bitcoin appears ready for directional moves, as indicators such as the Stoch RSI show overselling levels on the 4-hour chart and MACD flattening. Traders should closely monitor the volume to check for breakouts or breakdowns.
BTC Technical Forecast Table: May 13th
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