Bitcoin price stabilizes above $100k as RSI turns bullish
Bitcoin momentum slows this week
Bitcoin’s price action this week reflects a pause in momentum following a powerful multi-week rally that pushed it above the key $100,000 psychological threshold. After rallying from the April low of $74,500 and briefly clearing $105,000 last week, Bitcoin has stalled just above $100,700, caught in a narrow range that signals hesitation rather than exhaustion.
Price has hovered between $100,700 and $105,800 for over seven days, suggesting traders are awaiting a breakout trigger. As of Thursday, May 16, the price is nearly flat on the week, sitting around 104,000 near its weekly open at $103,900. The fact that Bitcoin trades only 5.5% from its all-time high yet lacks strong directional bias points to a classic consolidation phase.
BTC price dynamics (Jan - May 2025). Source: TradingView
Technically, momentum remains slightly in favor of buyers. The 4-hour RSI has tilted back into bullish territory following Wednesday’s intraday recovery. However, that rally occurred on declining volume, suggesting low conviction from market participants and increasing the likelihood that this sideways movement may extend.
Bitcoin long-term investor confidence offsets lack of near-term momentum
On the fundamental side, confidence among long-term holders supports the current price stability. On-chain data shows that long-term investors have not started large-scale profit-taking, a common behavior when Bitcoin approaches record levels. Instead, accumulation continues, hinting at an expectation of higher prices in the coming weeks. This low-profit taking contrasts previous bull cycles, where prices near all-time highs often prompted sharp exits.
In summary, Bitcoin is holding firm above $100,000 despite stalled momentum and narrowing volatility. Bullish bias is supported by investor positioning and RSI readings, but low volume and a consolidation range suggest a breakout is needed to confirm further upside. A move beyond the $105,800 ceiling or below the $100,700 floor will likely set the tone for Bitcoin’s next leg.
Bitcoin price pulled back below $102,670 after failing to extend its five-week rally. RSI cooled while trading range narrowed to 5,000 points indicating weakening momentum near key support.
