Bitcoin Price Prediction: Can BTC Reclaim the $103K Level After Sharp Rebound?

The Bitcoin price today is trading around $101,530 after recovering sharply from a deep selloff that sent the asset below the $99,000 mark.

This bounce aligns with the lower boundary of a multi-month ascending channel, reinforcing the technical importance of the $99,250–$100,000 region as a strong macro support. However, the price is now approaching dense EMA resistance zones near $102,800–$104,500, raising questions about the sustainability of this rebound.

What’s Happening With Bitcoin’s Price?

BTC staged a strong intraday rally from a low of $98,600 back to above $101,000, printing a bullish engulfing structure on the 4-hour chart. This move occurred just as Bitcoin touched the lower Bollinger Band and the channel support on the daily timeframe.

Price is currently facing resistance at the 20 and 50 EMAs clustered between $102,376 and $103,861. The 100 EMA near $104,773 marks the next upside ceiling, with the Supertrend line still flashing red at $103,712. Unless BTC closes above this cluster, bullish continuation remains…

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