BTC Struggles Below $110K Resistance

After tagging a local top near $110,800 earlier this week, the Bitcoin price today is hovering near $108,750, reflecting mild intraday pressure. While the broader uptrend remains intact, the recent pullback has brought short-term caution into focus. With key indicators flashing mixed signals, traders are closely watching the $108K–$110K zone for clarity on Bitcoin’s next leg.

The current Bitcoin price action comes after a strong upside breakout from the $95K–$100K range, where buyers established a solid base. But as price now trades beneath a short-term triangle resistance, momentum appears to be fading into consolidation. The question is, Why Bitcoin price going down today, and could this be the start of a broader pullback or just a healthy pause before continuation?

What’s Happening With Bitcoin’s Price?

BTC price analysis (Source: TradingView)

On the 4-hour chart, Bitcoin recently broke down from a rising wedge pattern and is now testing the lower boundary of a symmetrical triangle structure, with support near $108,000 and resistance capped around $110,600. This compression follows an aggressive rally from May 20, during which the Bitcoin price spiked nearly 12% in five days. However, the failure to hold above the wedge top and the subsequent rejection at $110.5K suggests near-term exhaustion.

BTC price analysis (Source: TradingView)

Meanwhile, the daily chart shows that Bitcoin is still trading above the ascending trendline formed in early April. The broader Bitcoin price update indicates a bullish structure overall, but losing $108K on high volume could confirm a short-term shift toward $105,500–$103,800 support. Price remains above all key EMAs, with the 20 and 50 EMA levels currently converging around $108,900 and $107,900 respectively, providing initial cushions.

RSI, MACD and Volatility Signal Reversal Risk

BTC price analysis (Source: TradingView)

The Relative Strength Index (RSI) on the 30-minute chart is currently below 45, down from its overbought levels above 70 just days ago. This shows a steady decline in buying momentum. On the 4-hour RSI, readings have dropped back toward 43.3, suggesting a move into neutral-bearish territory.

Likewise, MACD on the 30-minute chart shows a weakening histogram and a bearish crossover forming below the signal line, which supports the current stalling narrative. The Bitcoin price volatility has also compressed on lower timeframes, with Bollinger Bands narrowing sharply—usually a prelude to a high-volume move.

BTC price analysis (Source: TradingView)

Stoch RSI is curling downward from the overbought region, while the Chande Momentum Oscillator (ChandeMO) reads around 29, indicating that short-term upside momentum is losing strength. Overall, momentum indicators are hinting at a possible local top and cooling phase unless bulls reclaim $110K with strength.

Ichimoku Cloud and Bollinger Band Structure

BTC price analysis (Source: TradingView)

Looking at the Ichimoku Cloud on the 30-minute chart, price action is consolidating just inside the Kumo cloud after briefly dropping below the Tenkan-sen. The flat Kijun-sen around $108,750 is acting as magnetic support, while the Senkou Span A/B lines are beginning to flatten, reflecting indecision. Price is yet to flip the cloud bullish again, and a failure to break above $109.2K could lead to another dip toward the $107.5K–$106.8K demand zone.

Bollinger Bands on the 4-hour chart show that price has pulled back from the upper band near $110.5K and is now resting around the mid-band level of $108.7K. The lower band is currently near $106.8K. This band compression, alongside declining volatility, often precedes strong directional moves.

Short-Term Forecast and Key Levels to Watch

BTC price analysis (Source: TradingView)

For now, the Bitcoin price today is showing signs of hesitation as it trades beneath triangle resistance and key short-term EMAs. Bulls need a decisive close above $110,600 to confirm breakout continuation, while a breakdown below $107,800 could open the gates to $105,500 or even $103,800.

The near-term structure leans neutral-bearish with a bias for corrective pullback unless a volume surge reclaims the $110K handle convincingly.

The current Bitcoin price update shows that the asset remains in a bullish macro structure, but short-term technicals suggest caution. Price is consolidating within a tight range, and a clean breakout or breakdown from this zone will likely set the tone for the rest of the week. If bulls fail to reclaim $110,600, further cooling toward $106K cannot be ruled out.

For now, expect Bitcoin price action to remain choppy with elevated volatility around key EMAs and demand zones. As long as $105,500 holds, the medium-term uptrend remains intact.