Bitcoin price rebounds 1.7% after high-volume breakdown but faces key EMA resistance
The selloff on Thursday saw Bitcoin tumble over 4% on high volume
Bitcoin price is attempting a modest recovery this Friday following a volatile breakdown on Thursday that dragged the alpha token to a 4-week low.
The drop marked a third consecutive daily loss and was crucial because it broke down through a tight six-day consolidation range that had previously held between $106,400 and $103,100.
- Bitcoin rebounds 1.7% today after three straight daily losses
- Price is retesting the broken $103,100 support now turned resistance
- Bearish EMA alignment and RSI suggest renewed downside pressure remains
The selloff on Thursday saw Bitcoin tumble over 4% on high volume, breaching the 78.6% Fibonacci support level before finding temporary footing at the 50-day EMA near $100,500. That moving average provided support and helped price recover to close at $101,600, which became the basis for today’s positive open.
BTC price dynamics (March - June 2025). Source: TradingView
As of Thursday’s European session, Bitcoin is up 1.7% on the day and trades near $103,330. However, the current price sits directly under a key resistance zone. This level, around $103,100, marks the lower boundary of the prior six-day range that was broken during the recent bearish breakout. The price now faces a typical technical scenario known as the retest of a broken consolidation support level, which now acts as resistance.
Bitcoin's 4-hour chart shows bearish crossover of 50 and 100 EMA near $104,400
Several technical indicators reinforce the bearish tone. On the 4-hour chart, the 50 EMA has crossed below the 100 EMA, while all three key short-term moving averages, the 20, 50, and 100 EMA are now sloping downward in a bearish alignment. Additionally, the daily RSI has tilted into bearish territory, mirroring the sentiment on the lower timeframes.
This suggests that today’s rebound could be a classic bearish retest rather than a shift in momentum. If Bitcoin price gets rejected at $103,100, it would likely trigger a renewed decline toward the psychological $100,000 level, just below Thursday’s low.
In the less likely case that Bitcoin breaks back above the $103,100 zone, traders will be watching the 4-hour EMA cluster between $104,400 and $105,400. That zone is a heavy resistance zone that could limit any upside unless strong bullish volume returns.
Bitcoin’s broader trend structure still depends on whether this week’s break below the consolidation zone develops into a larger trend reversal or a false breakdown. Until then, short-term bearish pressure stays in focus.
Bitcoin stalled below the 20-day EMA after failing to sustain momentum from the mid-May rally. Price consolidated for six days between $106,400 and $103,100 as bulls lost strength.
