Bitcoin (BTCUSD) is currently consolidating around 102,884.83 (blue line) after a strong bullish breakout in early May. Despite recent gains, momentum is showing signs of stalling below key resistance, with price action flattening near the highs.

The pair rallied strongly in late April and early May, breaking above previous resistance at 93,950.32 and reaching a high near 104,379.80. However, the last few candles have shown reduced range and buying pressure, indicating possible exhaustion. Price remains well above the 20-day EMA, showing short-term bullish bias, but immediate upside seems capped for now.

MACD (12,26,9) remains bullish with the histogram still expanding and the MACD line above the signal line. The latest MACD values are 3982.657 for the MACD line and 3518.499 for the signal, suggesting positive momentum persists, although with reduced acceleration.

Market Observation & Strategy Advice
1. Current Price Level: 102,884.83 – Consolidating just below resistance, forming potential short-term top.
2. Key Resistance: 104,379.80 – Price has failed to break this level for 3 consecutive sessions.
3. Key Supports: 93,950.32 – Previous breakout level, now acting as major support. 84,410.17 – Stronger support zone from mid-April.
4. Momentum & Indicators: MACD (12,26,9): Positive and still expanding; MACD > Signal, but histogram growth is flattening. Volume, No spike in volume during recent candles, suggesting lack of buying follow-through. Candlesticks, Smaller-bodied candles and potential doji patterns forming at highs.
5. Strategy Advice:

• Avoid Aggressive Longs – Price is testing strong resistance; wait for breakout confirmation above 104,379.80.
• Watch for Reversal Signals – Bearish candlestick patterns near resistance may trigger short-term pullback.
• Bullish Bias Holds Above 100K – As long as price remains above psychological 100,000, sentiment stays bullish.
• MACD Monitoring – If MACD histogram contracts or crossover occurs, prepare for possible correction.
• Buy the Dip Scenario – Pullback to 93,950.32 could present a long opportunity if supported by bullish reaction.

Market Performance:
Crypto   Last Price    % Change
ETHUSD   2,611.6            +0.05%
XRPUSD   2.5586          +0.27%

Today’s Key Economic Calendar:
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UK: GDP MoM
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US: Retail Sales MoM