Key factors:
Bitcoin RSI information types a bearish divergence, getting merchants in place for decrease ranges subsequent.
The Might month-to-month candle shut seals 11% positive aspects, however the weekly shut is the occasion on the radar for market members.
Areas of curiosity embrace $97,000 in addition to the psychologically important $100,000 mark.
Bitcoin (BTC) sought to protect 2024 all-time highs on June 1 after the month-to-month candle shut delivered 11% positive aspects.
Bitcoin RSI divergence primes merchants for brand spanking new lows
Knowledge from Cointelegraph Markets Professional and TradingView confirmed BTC/USD trying to reclaim $105,000 into the weekly shut.
Sustained draw back all through the week introduced Bitcoin again into contact with important assist ranges from earlier within the bull market.
Chief amongst these was the native high from Dec. 17, 2024 at round $104,450.
Commenting, well-liked dealer Matthew Hyland described the weekly shut degree as “pivotal.”
#BTC Weekly shut now pivotal pic.twitter.com/QFvhnVRuba
— Matthew Hyland (@MatthewHyland_) May 30, 2025
Hyland uploaded a chart exhibiting a bearish divergence between value and the relative power index (RSI) on weekly timeframes.
RSI is a traditional development power indicator, which measures momentum at given value 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 informed X followers on Might 31.
An accompanying chart referenced so-called truthful worth gaps (FVGs) as measured by Fibonacci retracement ranges, these exhibiting imbalances between consumers and sellers as value ascended to its present space.
Two FVG zones of curiosity have been at $97,000 and $90,000.
“After a +50% run, a cooldown would not be a foul factor. Wholesome market construction issues,” Titan of Crypto acknowledged.
BTC value uptrend “intact”
Based mostly on order e book liquidity information, dealer CrypNuevo recommended the $100,000 may perform as a value magnet ought to the market fall additional.
Associated: How low can the Bitcoin value go?
“It is a sturdy 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 total bullish market construction regardless of BTC/USD dropping 8% over the previous week.
“So I believe we’ll in all probability drop to $100k and mess around there for some days – even a slight non permanent drop beneath it to shake the market would make sense.,” he concluded.
“However within the massive image, we have now the bull market assist at $84k catching as much as value; uptrend is undamaged; liquidity is above.”
This text doesn’t include funding recommendation or suggestions. Each funding and buying and selling transfer includes threat, and readers ought to conduct their very own analysis when making a call.
