Bitcoin was priced at $103,826 after falling 3.53% in the last 24 hours. Over the past seven days, the price has dropped by 9.20%. The current move puts Bitcoin within a few percentage points of a key level that has previously acted as a turning point.
Market participants are watching closely as the asset nears the same price area where previous recoveries started earlier this year. Analysis indicates that the Crypto Fear & Greed Index is back in the 10–15 range. This level has matched earlier market lows where investors began buying again.
Sentiment Reaches Familiar Zone
Between March and May 2025, the index reached similar levels. Those periods were followed by steady rebounds. Past charts show a repeated pattern: once the index entered extreme fear territory, price support often formed soon after.
One analyst stated,
“If BTC falls another 2–3%, we can hope it will bounce back from here, just like the previous time.”
The current sentiment zone has seen consistent buying interest before, and many traders are waiting for signs that a bottom is forming again.
Technical Chart Patterns Show Possible Turning Point
On the weekly chart, Bitcoin has broken below the lower Bollinger Band for the first time since March. That previous move happened when BTC traded around $74,000. What followed was a sharp climb to over $110,000.
This current break may indicate short-term selling pressure.
Another analyst posted,
“$BTC first breach of lower BB weekly since March.”
The chart shows a full weekly candle body falling outside the lower band. Similar breaks in the past have often come just before a bounce.
The $100,000–$102,000 range is now being closely watched. It lines up with the 200-day EMA. If buyers step in here, the price could start to stabilize. A deeper drop could take BTC to around $96,000–$98,000 before any steady base is built.
RSI Nears Key Level, But Not Oversold Yet
The daily Relative Strength Index (RSI) is now around 35.05. This reading is close to, but not yet in, oversold territory. RSI often moves between highs and lows, and traders look at it to track momentum.
One market commentator shared,
“There’s a chance we could see RSI make a higher low if price bounces, even with price lower.”
If that happens, it may show that selling is slowing, even if the price still falls slightly.
In previous cycles, when RSI touched low levels and then began to rise, price often followed. For now, traders are watching to see if RSI begins to flatten or turn upward, especially if trading volume picks up.
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