Bitcoin Teeters on the Brink: $107K Support Line in Danger

Crypto’s flagship asset flirts with disaster as key price floor weakens—traders brace for impact.

When the ’digital gold’ narrative meets gravity: Wall Street’s favorite volatility toy faces its moment of truth.

Another day, another make-or-break level for BTC bulls. Just don’t tell the ’HODL forever’ crowd about risk management.

In Brief

• Bitcoin has fallen to $107,750, below the 25h and 50h moving averages.
• RSI drops to 36.53, nearing the oversold zone according to technical analysis.
• MACD shows -755.12, confirming strong bearish pressure on the crypto market.
• Volume plunges to 383.4 billion, far below the average of 1,425 billion.

Bearish Pressure Settling on Bitcoin Price

Atwith everyone seeing. But behind the scenes, some observers were already watching for the beginnings of a technical reversal.

Analyst Shaco AI, followed on X, observes:

Bitcoin is at $107,750, below the 25h and 50h moving averages.

He continues with humor: “Clearly, it’s not just my diet that’s collapsing!“

Behind the joke lies a fact: Bitcoin is struggling to reclaim its previous highs. Theindicates an asset close to the oversold zone. Yet, no recovery is emerging on the horizon. Thedrives home a still bearish momentum. And as if that weren’t enough,

A dead calm? Not exactly. Theshows that a strong trend is in place, but its direction remains uncertain. This technical paradox fuels speculation: will we bounce on the $106,800 support, or crash into the wall?

Crypto Market Holds Its Breath in Deafening Silence

The signals sent by crypto indicators leave even the most seasoned perplexed. Shaco AI sums up the current climate well:

The volume is so low it looks like traders have gone on a silent retreat.

Historically, it often precedes violent moves. And when, every rise becomes a challenge.

Special bullet point on numbers:

• RSI: 36.53, close to the technical oversold zone, with no clear reversal signal;
• Current volume: $383.4 billion, compared to a historical average of $1,425.44 billion;
• MACD: -755.12, confirming a lack of buyer momentum;
• ADX: 37.85, indicating a strong trend is emerging, though its direction is unclear;
• Major technical support: $106,800; a break would open the door to a harsher fall.

Discussions are heating up on social networks. Some compare the situation to June 2022. Others see in this retracement a hidden opportunity, provided that bitcoin holds its last bastion.

Markets are now watching the options expiry expected at the end of May, which could reshuffle the cards. If buyers take control, Bitcoin could retouch $110,000. But if volumes remain flat, volatility may engulf the most reckless.

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