BTC RSI Slips Below 40 as $100K Support Wavers
Bitcoin RSI has fallen to 39.5, reflecting weakening bullish momentum as price hovers near $103,900 below the 25- and 50-hour SMAs. Trading volume remains low at 387 versus a 590 average, underscoring weak conviction. A breakdown below the $100,000 support zone could trigger a rapid drop toward $96,000, aligned with the November 2024 point of control and the 200-day EMA. Weekend thin liquidity and a low-volume gap between $102K–$100K increase downside risk. Key levels to watch include resistance at $106,525, initial support at $102,345, then $100,000 and $96,000. Traders should monitor for a surge in volume or a decisive breakout before positioning for further moves.
Bearish
The sharp drop in Bitcoin RSI below 40 combined with low trading volume and thin weekend liquidity heightens the risk of further declines. Key support at $100,000 and the low-volume gap between $102K–$100K could give way, potentially driving price down to $96,000 where the 200-day EMA and point of control may offer relief. In the short term, traders are likely to stay cautious, awaiting a clear volume-backed breakout. Longer term, a sustained breach of $100K could undermine bullish sentiment until confirmed buying emerges near critical moving averages.