Bitcoin price slips 1.6% as Fear and Greed Index holds at neutral 52
Bearish pressure mounts as Bitcoin battles EMA resistance
Bitcoin’s price has struggled to regain bullish momentum after its sharp pullback from the May 22 all-time high at $112,000.
Since then, price action has drifted into a sideways consolidation above the key $100,000 psychological level. Sellers have been unable to breach this level, while bulls have failed to sustain momentum to establish new highs. This standoff has kept Bitcoin locked in a wide-range pattern defined by short-term swings and fading volume.
Highlights
-Bitcoin struggles to clear compressed EMA resistance on 1-hour chart
-Price hovers above $103,000 after failed bearish breakdown on Tuesday
-Sentiment neutral at Fear and Greed Index 52 and RSI signals fading momentum
In recent weeks, market participants have shifted their defense to a higher zone, now anchored at $103,000. This level, which has acted as a short-term floor, was tested again on Tuesday when Bitcoin fell by over 4% from an intraday high of $107,800 down to a day low of $103,500. That move broke the supportive trendline that had defined the four-day rebound rally and also pierced the 20-day EMA at $106,000.
BTC price dynamics (May - June 2025). Source: TradingView
Despite the technical break, sellers failed to push price below $103,000, allowing Bitcoin to close Tuesday at $104,500. This mild lift extended into the Wednesday Asian session, with price rising 1.17% to trade around $105,400 in the current European session. However, this rebound has lacked follow-through, as trading volume has been on the decline.
Bitcoin 1-hour EMA cluster compresses price under $106,000
The 1-hour chart now shows a cluster of resistance from the 20, 50 and 100 EMA levels, which has stalled further upside. These moving averages are compressing price and could trigger renewed selling pressure if bulls fail to regain strength. The inability of the recovery to build on momentum increases the probability of a fresh retest of the $103,000 support area.
Technical indicators reinforce the indecision. The daily RSI stands at neutral, while the Fear and Greed Index reads 52, suggesting sentiment has cooled to equilibrium. Short-term RSI on the hourly chart is slightly bearish near 45.5, further pointing to weakening momentum.
If the $103,000 support breaks, Bitcoin will likely revisit the broader base of the consolidation near the $100,000 psychological level. On the upside, any meaningful rally will require clearing the 1-hour EMA resistances and reclaiming $106,000 to signal a resumption of bullish strength.
Bitcoin erased Monday’s rally after rejecting $109,000 but found trendline support at $105,500. Daily volume growth and stable RSI signalled bullish structure remains intact despite the pullback.
