Bitcoin (BTC) Price Prediction for May 19: Bulls Eye $104K but Momentum Still Mixed
The Bitcoin price today is trading around $103,650, attempting to stabilize just below the key $104,000 resistance zone after a brief consolidation phase. While the macro trend remains bullish, the recent Bitcoin price action shows tightening within a symmetrical triangle formation on lower time frames, suggesting that a breakout—or breakdown—may be imminent heading into May 19.
What’s Happening with Bitcoin’s Price?
Looking at the 4-hour chart, Bitcoin continues to respect a rising support trendline that connects the early May lows to the current structure. After surging from sub-$100,000 levels earlier this month, the Bitcoin price has faced repeated rejections just under $105,000. The consolidation near $103,300–$103,800 represents a period of indecision following the bullish rally, but structure remains intact as long as bulls defend $101,500.
BTC price dynamics (Source: TradingView)
Multiple triangle breakouts since April have fueled Bitcoin price spikes, but current candles suggest caution. A bearish divergence is forming between price and RSI, as price hovers near highs while momentum flattens.
RSI, MACD, and Bollinger Bands Suggest Caut…
The post Bitcoin (BTC) Price Prediction for May 19: Bulls Eye $104K but Momentum Still Mixed appeared first on Coin Edition.
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Bitcoin (BTC) Price Prediction for May 19: Bulls Eye $104K but Momentum Still Mixed
The Bitcoin price today is trading around $103,650, attempting to stabilize just below the key $104,000 resistance zone after a brief consolidation phase. While the macro trend remains bullish, the recent Bitcoin price action shows tightening within a symmetrical triangle formation on lower time frames, suggesting that a breakout—or breakdown—may be imminent heading into May 19.
What’s Happening with Bitcoin’s Price?
Looking at the 4-hour chart, Bitcoin continues to respect a rising support trendline that connects the early May lows to the current structure. After surging from sub-$100,000 levels earlier this month, the Bitcoin price has faced repeated rejections just under $105,000. The consolidation near $103,300–$103,800 represents a period of indecision following the bullish rally, but structure remains intact as long as bulls defend $101,500.
BTC price dynamics (Source: TradingView)
Multiple triangle breakouts since April have fueled Bitcoin price spikes, but current candles suggest caution. A bearish divergence is forming between price and RSI, as price hovers near highs while momentum flattens.
RSI, MACD, and Bollinger Bands Suggest Caut…
The post Bitcoin (BTC) Price Prediction for May 19: Bulls Eye $104K but Momentum Still Mixed appeared first on Coin Edition.
Read More