Bitcoin has entered a critical juncture, trading around $104,400, as signs of market exhaustion begin to surface. While the broader trend remains bullish, emerging technical signals suggest caution, with the most alarming being the potential formation of a “mini-death cross” on the four-hour chart.
A mini-death cross occurs when a short-term moving average—typically the 20- or 26-period EMA—dips below a longer-term average such as the 50 EMA on lower timeframes. Though less impactful than a full death cross on daily charts, this pattern often marks the end of short-term rallies, igniting bearish sentiment and triggering stop-loss orders. Should this cross materialize in the next few sessions, it could swiftly undermine the bullish momentum built in recent weeks.
On the daily chart, Bitcoin is precariously perched just above the 26 EMA (~$104,500), a level that has served as critical support in the short term. A decisive break below this point could send the asset tumbling toward the next key support around $99,800—a psychologically significant level and previous breakout zone. A deeper slide could expose the 50 EMA near $96,500, with the convergence of the 100 and 200 EMAs in the high $80,000 range looming as the line not to cross.
Adding to the bearish undertone, trading volume has dropped sharply, signaling weakening buying interest. Meanwhile, the Relative Strength Index (RSI) has dipped to around 50, hovering near the neutral-to-bearish threshold and hinting at a possible shift from consolidation to distribution.
Traders are advised to monitor the $104,000 level closely. A close below this support increases the risk of a short-term breakdown. While a quick rebound toward $107,000–$108,000 remains possible, failure to sustain bullish pressure could make the mini-death cross a self-fulfilling bearish catalyst.
Shiba Inu Teeters on Edge but Hints at Reversal Potential
Despite recent negative sentiment, Shiba Inu (SHIB) may be positioning itself for a potential turnaround. Trading at $0.00001282, the token hovers just above its annual low, a historically significant support zone that has often triggered sharp relief rallies.
SHIB has returned to the lower boundary of its accumulation range from earlier in the year. The $0.0000125–$0.0000130 corridor has previously sparked short-term rebounds in March and April, even though none managed to breach the 200 EMA. Still, the pattern indicates active defense from buyers around this level.
The RSI currently stands at 39—just above oversold territory—suggesting a possible rebound scenario. While volume remains muted, its stability points to a lack of intensified selling pressure. SHIB’s recent failure to reclaim the 50 and 100 EMAs did not result in a full breakdown, signaling some market belief in consolidation rather than collapse.
A bullish reversal could form if SHIB stabilizes for several more sessions and climbs above the $0.0000135 resistance. The most optimistic outlook would see a retest of the $0.0000157 level, potentially invalidating the current bearish structure and opening the door to a broader rally.
Dogecoin Stalls as Market Sentiment Softens
Dogecoin (DOGE) is exhibiting notable lethargy in both price and volume as it drifts sideways following a recent local peak. Currently trading around $0.19, the meme coin is neither rallying nor plunging—an unmistakable sign of a market in sleep mode.
DOGE is hovering just above its 100 EMA, within the $0.18–$0.19 support zone. However, technical indicators show little enthusiasm. The RSI rests at 39, reflecting a neutral-to-bearish outlook.
Volume has thinned out considerably, pointing to a lack of conviction from both bulls and bears. The 50 EMA, sitting just above the current price, remains the key resistance to watch. A breakout above this level, coupled with renewed volume, is essential for reigniting upward momentum.
In the absence of such a move, DOGE appears poised to continue its sideways drift—or worse, slip slightly lower. This phase of directionless trading could represent either quiet accumulation or simple market apathy, both of which tend to precede larger swings—but not without lulling investors into a false sense of calm.
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