Bitcoin is facing significant bearish pressure as it dropped over 4.5% on May 19, risking a breakdown below the $100,000 mark. Analysts have identified the key support levels at $97,000-$98,500, which need to hold for bulls to maintain any bullish sentiment. Following a new local high above $107,000, Bitcoin’s price action revealed a bearish divergence, leading to a sharp decline. This divergence hints at technical weakness and suggests that a potential retest of $91,000 may occur before any genuine bullish breakout can resume. Additionally, the formation of an inverse head-and-shoulders pattern on the three-day chart indicates the short-term nature of this retracement. The recent price movements have put immediate support in the $101,500-$102,500 area at risk, and if this level fails to hold, Bitcoin could see further declines. Investors are advised to be cautious as they navigate the current market volatility.

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