- Bitcoin trades at $105K, stuck between the 50 day MA at $108K and 200 day MA at $102K, suggesting near-term consolidation.
- RSI drops to 54.82, MACD shows bearish divergence, momentum weakens as BTC tests $104K support.
- A break above $108K may target $112K; a fall below $104K risks decline to $101.5K–$100K, where demand remains strong.
Bitcoin has entered a cautious consolidation phase following a recent surge above $110,000. On May 30, at press time, Bitcoin was trading at $105,652, a 2.10% decline over the past 24 hours. The weekly drop is at 4.30%, although the monthly performance had a gain of 11.35%.
Despite the recent dip, analysts attributed the movement to short-term technical factors rather than broad negative sentiment. According to market executives at the Bitcoin 2025 conference in Las Vegas, current price action indicates consolidation influenced by macroeconomic changes.
Technical Indicators Show Mixed Signals
Bitcoin retraced from its recent peak of $112,000 and remained volatile within a narrow trading band. The daily low was $104,725, while the high reached $106,412. Price traded between the 50 day moving average at $108,000 and the 200 day average at $102,000.
These two levels now act as short term resistance and support, respectively. The RSI dropped from a peak of 66.82 to 54.82. While this level still is in neutral levels, a decline below 50 could lead to further losses.
The MACD indicates weakening momentum. The MACD line is at 2,679.22, below the signal line at 3,416.66, with a histogram reading of -737.44, confirming bearish divergence.
Support and Resistance Zones
Bitcoin’s medium term outlook remains bullish, but short-term signals suggest potential pressure. The support level at $104,000 has become a key bottom after the drop. If this level breaks, stronger support is located near $100,000.
The $93,000–$95,000 zone has also offered demand during prior consolidations in April. On the upside, resistance is at the recent high of $110,000. A close above the MA50 near $108,000 could drive renewed bullish momentum.
If volume increases, prices may revisit the $112,000. Trading volume reached $58.83 billion in recent days, showing mild interest without extreme bullish conviction.
Consolidation Zone and May 31 Potential Scenarios
The golden cross, in late April, helped drive a sharp rally from below $90,000 to recent highs. However, the current failure to reclaim the 50 day moving average has raised concerns about a pullback. Short-term sentiment now depends on Bitcoin’s ability to maintain levels above $104,000. Price movement within this consolidation zone will likely define May 31 direction.
On the upside, if BTC rebounds above $104,000 and breaks past $108,000, it could rise toward $110,000–$112,000. However, if BTC drops below $104,000, it could slide toward $101,500–$102,000, with strong demand expected near the $100,000 level.
Overall, Bitcoin’s price remains caught between support and resistance, with technical signals suggesting mixed momentum. The $104,000 level will likely determine the next decisive move.
