🔻 [BTC MARKET ANALYSIS] Bitcoin Drops Sharply – Profit-Taking Pressure Pulls Price Back to $106K

⏰ Timestamp: 04:51 (May 29, 2025)

📉 On the 1-day chart (1D), BTC is facing a notable correction after hitting a local high of $111,980. It has now retraced to $106,302, marking a -1.11% decline in the last 24 hours.

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📊 Key Technical Signals:

• The EMA(7) has crossed below the EMA(25) → indicating a short-term bearish trend.

• MACD shows bearish divergence: DIF < DEA, with negative histogram bars expanding.

• Volume is slightly tapering off, signaling that buyers are becoming cautious after the recent peak.

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⚠️ What This Means:

• BTC is under selling pressure as traders secure profits near the $112K resistance zone.

• The support zone to watch is around $103,000 – $105,000. A break below could accelerate the drop.

• On-chain sentiment and macro factors (e.g. Fed announcements, ETF flows) may influence the next move.

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💬 Your turn: Are we heading for a deeper pullback or is this just a healthy correction? Drop your thoughts below! 👇

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