The post Bitcoin (BTC) Price Prediction for May 18 appeared on BitcoinEthereumNews.com.

Bitcoin price today is hovering around $103,400 after failing to sustain momentum above $105,000 earlier this week. Despite a strong recovery from $100,762, recent candles show indecision with tightening Bollinger Bands and flattening RSI. The current rangebound movement comes after a multi-week rally that saw Bitcoin price spikes toward $105,787, followed by sustained rejection near major Fibonacci resistance. What’s Happening With Bitcoin’s Price? The Bitcoin price action on the 1-day chart remains bullish from a macro lens, with the asset firmly above the March–April downtrend breakout. The latest weekly candle formed a long upper wick just below the 0.786 Fibonacci level at $104,929, indicating heavy supply pressure. This area near $105,000 has acted as a historical rejection zone and now caps further upside unless cleared decisively. On the 4-hour chart, price remains inside a narrow consolidation triangle, with lower highs and slightly higher lows. This structure has developed just above the 50 EMA at $102,533, a critical dynamic support that must hold for bulls to maintain control. Any close below this could increase Bitcoin price volatility and trigger retests toward the $101,500 and $100,800 zones. Indicators Signal Potential for Breakout or Breakdown Shorter timeframes show conflicting momentum. On the 30-minute chart, RSI is neutral at 48.86 while the MACD has crossed above its signal line, showing early signs of bullish intent, though histogram bars remain modest. Meanwhile, the Ichimoku Cloud reflects consolidation, with the price hovering inside the cloud and Tenkan-Kijun lines flat — a typical pause phase before trend resumption. On the 4-hour chart, Bollinger Bands have tightened significantly between $102,321 and $104,574, suggesting a volatility expansion is imminent. EMA 20 and 50 are converging near $103,500, adding more weight to this compression zone. A clean move above $104,300 on volume could trigger a breakout rally to $105,700 and…

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Filed under: News - @ May 17, 2025 7:23 am