Key factors:
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Bitcoin RSI information kinds a bearish divergence, getting traders in place for decrease ranges subsequent.
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The Could monthly candle close seals 11% features, however the weekly close is the occasion on the radar for market contributors.
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Areas of curiosity embrace $97,000 as nicely as the psychologically important $100,000 mark.
Bitcoin (BTC) sought to protect 2024 all-time highs on June 1 after the monthly candle close delivered 11% features.
Bitcoin RSI divergence primes traders for brand new lows
Information from Cointelegraph Markets Pro and TradingView confirmed BTC/USD making an attempt to reclaim $105,000 into the weekly close.
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 local top from Dec. 17, 2024 at round $104,450.
Commenting, widespread dealer Matthew Hyland described the weekly close stage as “pivotal.”
#BTC Weekly close 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 classic trend strength 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 told X followers on Could 31.
An accompanying chart referenced so-called truthful worth gaps (FVGs) as measured by Fibonacci retracement ranges, these exhibiting imbalances between patrons 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 ebook liquidity information, dealer CrypNuevo recommended the $100,000 may operate as a value magnet ought to the market fall additional.
Associated: How low can the Bitcoin price go?
“It is a sturdy psychological stage and liquidity tends to stack in these ranges. Potential retest of this stage 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 momentary drop under it to shake the market would make sense.,” he concluded.
“However within the huge image, we’ve the bull market assist at $84k catching as much as value; uptrend is undamaged; 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.
