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Bitcoin Prie Analysis!!!
Bitcoin fell more than 4.5% on May 19, showing signs of weakness and risking a drop below 100,000.
Analysts point to 97,000–98,500 as important support that needs to be maintained.
On May 19, Bitcoin (BTC) dropped to about 102,000 from its high of over 107,000, marking its largest daily drop in over a month.
BTC's decline came as other risky assets also fell, after Moody’s downgraded the US government due to a growing budget deficit and no clear plan for financial stability.
Bitcoin's price action showed weakness before this drop. On May 19, though BTC reached a new local high, its relative strength index (RSI) showed a lower high, indicating a bearish divergence.
This inconsistency between price and momentum often suggests a trend change, leading to a quick 4.5% drop. Analyst Bluntz warned traders to be cautious with long positions.
Swissblock analysts noted that Bitcoin briefly went above the 104,000–106,000 resistance but could not maintain this level.
The price then fell back into an area with heavy trading volume, putting immediate support at 101,500 to 102,500 under stress.
Swissblock highlights the 97,000–98,500 range as a key target if the 101,500–102,500 area does not hold.
On a three-day chart, Bitcoin is forming the right shoulder of a possible inverse head-and-shoulders pattern.
This could mean a short-term dip to the 50-period exponential moving average, close to 91,000.
The likelihood of this drop has increased after BTC couldn't stay above the crucial 107,000 level, which also marked previous downturns in late 2024 and early 2025.
A bounce from the 91,000 area back to around 107,000 could improve Bitcoin’s chance of rising towards 150,000.
#MyEOSTrade #SaylorBTCPurchase #CryptoRegulation #BTCfluctuations #financialadvisor8806 $BTC
Bitcoin fell more than 4.5% on May 19, showing signs of weakness and risking a drop below 100,000.
Analysts point to 97,000–98,500 as important support that needs to be maintained.
On May 19, Bitcoin (BTC) dropped to about 102,000 from its high of over 107,000, marking its largest daily drop in over a month.
BTC's decline came as other risky assets also fell, after Moody’s downgraded the US government due to a growing budget deficit and no clear plan for financial stability.
Bitcoin's price action showed weakness before this drop. On May 19, though BTC reached a new local high, its relative strength index (RSI) showed a lower high, indicating a bearish divergence.
This inconsistency between price and momentum often suggests a trend change, leading to a quick 4.5% drop. Analyst Bluntz warned traders to be cautious with long positions.
Swissblock analysts noted that Bitcoin briefly went above the 104,000–106,000 resistance but could not maintain this level.
The price then fell back into an area with heavy trading volume, putting immediate support at 101,500 to 102,500 under stress.
Swissblock highlights the 97,000–98,500 range as a key target if the 101,500–102,500 area does not hold.
On a three-day chart, Bitcoin is forming the right shoulder of a possible inverse head-and-shoulders pattern.
This could mean a short-term dip to the 50-period exponential moving average, close to 91,000.
The likelihood of this drop has increased after BTC couldn't stay above the crucial 107,000 level, which also marked previous downturns in late 2024 and early 2025.
A bounce from the 91,000 area back to around 107,000 could improve Bitcoin’s chance of rising towards 150,000.
#MyEOSTrade #SaylorBTCPurchase #CryptoRegulation #BTCfluctuations #financialadvisor8806 $BTC
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