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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 Could month-to-month candle shut seals 11% good points, however the weekly shut is the occasion on the radar for market individuals.
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Areas of curiosity embrace $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% good points.
Bitcoin RSI divergence primes merchants for brand spanking new lows
Knowledge from Cointelegraph Markets Pro 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 vital help ranges from earlier within the bull market.
Chief amongst these was the local top from Dec. 17, 2024 at round $104,450.
Commenting, widespread 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 displaying a bearish divergence between value and the relative power index (RSI) on weekly timeframes.
RSI is a classic trend strength indicator, which measures momentum at given value factors.
Persevering with, fellow dealer Titan of Crypto warned that the divergence might have wider implications for bulls.
“A possible RSI bearish divergence is forming on the weekly chart. Nonetheless unconfirmed however price watching,” he told X followers on Could 31.
An accompanying chart referenced so-called truthful worth gaps (FVGs) as measured by Fibonacci retracement ranges, these displaying 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 nasty factor. Wholesome market construction issues,” Titan of Crypto acknowledged.
BTC value uptrend “intact”
Primarily based on order e-book liquidity information, dealer CrypNuevo instructed the $100,000 might operate as a value magnet ought to the market fall additional.
Associated: How low can the Bitcoin price 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 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 short-term drop under it to shake the market would make sense.,” he concluded.
“However within the large image, we’ve the bull market help at $84k catching as much as value; uptrend is unbroken; liquidity is above.”
This text doesn’t comprise funding recommendation or suggestions. Each funding and buying and selling transfer entails danger, and readers ought to conduct their very own analysis when making a choice.