Bitcoin’s recent rally appears to be losing steam, with the price stalling around $115,745. After bouncing back from September lows, the cryptocurrency now shows signs of waning momentum. One key indicator is the Relative Strength Index (RSI), which recently reversed from near-overbought levels and has moved into a neutral zone. This suggests buying pressure is fading, often a precursor to a pullback when price action struggles to break higher.
Low volatility is also signaling indecision. Bitcoin is consolidating in a narrow range near resistance, a pattern that frequently leads to downside breaks as traders secure profits. Additionally, trading volume has diminished, reflecting reduced activity and weakening bullish momentum. These factors combined increase the likelihood of a short-term retracement.
From a technical perspective, Bitcoin’s 20-day EMA has been acting as immediate support. However, if selling pressure intensifies, the market could retest deeper levels, including the 50-day EMA near $114,000 and the 200-day EMA around $105,900. Breaking below these supports would indicate the recent rally was merely a relief bounce rather than the start of a sustained uptrend.
At present, Bitcoin looks more exhausted than strong at its consolidation level. Unless buyers reassert control, the most probable scenario is a correction toward $114,000–$112,000. In the case of broader macroeconomic weakness, the price could slide further toward $106,000.
Overall, Bitcoin’s current setup reflects cooling momentum, limited buying pressure, and a heightened risk of short-term downside. Traders should closely monitor support zones to determine whether this pullback evolves into a deeper correction or simply a temporary pause before another attempt higher.
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