Key factors:
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Bitcoin RSI information kinds a bearish divergence, getting merchants in place for decrease ranges subsequent.
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The Might month-to-month candle shut seals 11% features, however the weekly shut is the occasion on the radar for market individuals.
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Areas of curiosity embody $97,000 in addition to the psychologically vital $100,000 mark.
Bitcoin (BTC) sought to protect 2024 all-time highs on June 1 after the month-to-month candle shut delivered 11% features.
Bitcoin RSI divergence primes merchants for brand spanking new lows
Knowledge from Cointelegraph Markets Professional and TradingView confirmed BTC/USD making an attempt to reclaim $105,000 into the weekly shut.
Sustained draw back all through the week introduced Bitcoin again into contact with vital help ranges from earlier within the bull market.
Chief amongst these was the native high from Dec. 17, 2024 at round $104,450.
Commenting, standard dealer Matthew Hyland described the weekly shut degree as “pivotal.”
#BTC Weekly shut now pivotal pic.twitter.com/QFvhnVRuba
— Matthew Hyland (@MatthewHyland_) Might 30, 2025
Hyland uploaded a chart exhibiting a bearish divergence between worth and the relative power index (RSI) on weekly timeframes.
RSI is a basic pattern power indicator, which measures momentum at given worth factors.
Persevering with, fellow dealer Titan of Crypto warned that the divergence may have wider implications for bulls.
“A possible RSI bearish divergence is forming on the weekly chart. Nonetheless unconfirmed however value watching,” he instructed X followers on Might 31.
An accompanying chart referenced so-called honest worth gaps (FVGs) as measured by Fibonacci retracement ranges, these exhibiting imbalances between consumers and sellers as worth ascended to its present space.
Two FVG zones of curiosity had been at $97,000 and $90,000.
“After a +50% run, a cooldown would not be a nasty factor. Wholesome market construction issues,” Titan of Crypto acknowledged.
BTC worth uptrend “intact”
Based mostly on order e book liquidity information, dealer CrypNuevo steered the $100,000 may operate as a worth magnet ought to the market fall additional.
Associated: How low can the Bitcoin worth go?
“It is a robust psychological degree and liquidity tends to stack in these ranges. Potential retest of this degree first,” a part of an X thread learn on the day.
CrypNuevo maintained religion within the general bullish market construction regardless of BTC/USD dropping 8% over the previous week.
“So I believe we’ll most likely drop to $100k and mess around there for some days – even a slight short-term drop under it to shake the market would make sense.,” he concluded.
“However within the massive image, now we have the bull market help at $84k catching as much as worth; uptrend is unbroken; liquidity is above.”
This text doesn’t include funding recommendation or suggestions. Each funding and buying and selling transfer entails threat, and readers ought to conduct their very own analysis when making a call.
