Bitcoin (BTC) Price Prediction for May 17

The Bitcoin price today is trading just above $104,000, marking a critical recovery from the week’s earlier lows near $101,300. After consolidating within a descending triangle on the 4-hour chart, Bitcoin price action finally broke to the upside, reclaiming key short-term EMAs and inching toward the resistance cluster near $104,900. Despite the breakout, bullish momentum has not followed through strongly, as Bitcoin price volatility remains subdued below the Fibonacci resistance and daily highs. The current structure suggests a delicate balance between renewed optimism and overhead supply, especially as the market navigates macroeconomic uncertainty and cooling momentum signals. Bitcoin Price 4H Chart: Breakout Confirmed, But Is It Sustainable? BTCUSD price dynamics (Source: TradingView) On the 4-hour chart, BTC broke above a downward sloping triangle, with price retesting the $104,000 zone and briefly spiking toward $104,200. This confirms a bullish breakout, as noted by the double trendline break visible on both the 30-min and 4H setups. BTCUSD price dynamics (Source: TradingView) Still, upside is facing friction. The 0.786 Fib zone from the weekly r… The post Bitcoin (BTC) Price Prediction for May 17 appeared first on Coin Edition .

Source: Coin Edition