Bitcoin's Price Volatility Rises as Momentum Slows

Bitcoin's price has been trading around $102,300 following a volatile 48-hour period that saw a brief selloff below $101,000, followed by a modest recovery. Despite the rebound, there are signs of slowing momentum as Bitcoin struggles beneath its recent peak of $105,787. The 4-hour chart indicates that Bitcoin remains above its 20 and 50 Exponential Moving Average (EMA) lines, currently at $102,822 and $100,890 respectively, suggesting that bulls still have near-term control. However, the Relative Strength Index (RSI) has slipped to 49, nearing neutral territory after forming a lower high, which suggests that buying pressure is cooling even as the price attempts to stabilize above key moving averages.

On the 1-day chart, Bitcoin has retested and rejected the critical $105,000 resistance zone twice. This area has historically served as a ceiling for bullish continuation, and without a strong catalyst, further upside may remain limited. The price is also trading below the Fib 1.0 extension at $109,396, reinforcing this cap. The 30-minute chart reflects increasing Bitcoin price volatility, with sharp swings between $101,000 and $103,000 forming a triangle structure. The RSI on this timeframe has dipped below 50, while the Moving Average Convergence Divergence (MACD) remains in bearish territory, with a weak crossover signal still struggling to confirm upward momentum.

This near-term indecision is consistent with broader signs of exhaustion. The 4-hour RSI peaked on May 10 and has since declined, indicating divergence even as prices rose to new local highs. Moreover, on the 30-minute trendline chart, Bitcoin is forming a symmetrical triangle bounded by resistance at $104,548 and support around $101,035—setting the stage for a breakout or breakdown as early as May 14. Unless Bitcoin decisively reclaims $104,000–$105,000 with strong volume, the risk of a drop to $101,000 or even the $98,000–$100,000 support band remains elevated.

The most immediate support lies near $101,000, followed by a stronger base between $98,000 and $100,000 as indicated by EMA confluence and horizontal structure. On the flip side, a clean break above $104,500 would reopen the path to retest $105,700 and possibly $107,000. From a broader trend perspective, the weekly Fibonacci chart shows Bitcoin is still respecting the 0.618 retracement level near $96,727, suggesting macro bullish sentiment remains intact. But the resistance near $109,396 remains the long-term hurdle.

Given the combination of mixed RSI, bearish MACD signals, and rejection from key resistance, traders should remain cautious. Expect heightened Bitcoin price volatility heading into May 14, especially as Bitcoin tests the triangle boundaries. The intraday outlook is cautiously bearish, with support levels at $101,000 and $100,000, and resistance levels at $103,500 and $104,500. The 4-hour outlook is mixed, with potential for a reversal, and support levels at $100,890 and $98,000, and resistance levels at $104,000 and $105,700. The daily outlook is range-bound, with support levels at $96,727 and $94,000, and resistance levels at $105,787 and $109,396.