Bitcoin (BTC) Price Analysis – Will Support at $103K Hold?

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Bitcoin is currently under pressure as it trades around $105,745, testing a critical zone on the 4-hour timeframe. 

XRP Chart (Source Coingecko)

After recovering from oversold conditions, BTC is now struggling to stay above the 50-period Exponential Moving Average (EMA50) — a key dynamic support level that often influences short-term market direction.

Technical Overview:

  • Current Price: $105,745
  • Timeframe: 4-hour
  • EMA50: BTC is hovering just above it, with signs of potential weakness
  • RSI (Relative Strength Index): Neutral — suggesting indecision among traders
  • MACD (Moving Average Convergence Divergence): Negative crossover — indicating bearish momentum building up

Support Levels to Watch:

The most critical support level lies at $103,100. If Bitcoin fails to hold this zone, bearish pressure may intensify, potentially pushing BTC down to $97,000 — the next major support zone on the chart.

Conclusion:

Bitcoin is at a crucial level. Traders should closely monitor the $103,100 support. A bounce from this level could provide a bullish recovery opportunity, while a breakdown may lead to a deeper correction toward $97,000. Risk management remains essential in this uncertain environment.

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