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BitcoinSistemi 2025-05-27 09:51:08

Is a Correction Coming for Bitcoin (BTC)? Here Are Analyst Views and Technical Data

Is a Correction Coming for Bitcoin (BTC)? Here Are Analyst Views and Technical Data

Bitcoin Could Retreat to $100K, Technical Signals: Sign of Weakening Momentum According to technical analyst Omkar Godbole, the BTC price could rally outside the ascending channel and test the key support level at $100,000. Bitcoin, the cryptocurrency with the highest market value, was trading at $109,500 at the time of writing, according to Binance TR data, testing the ascending trend line stretching from $75,000 to above $110,000. According to TradingView data, price action has struggled to gain upward momentum over the past 24 hours. Despite reports that the Trump family-owned media company was planning to buy $3 billion worth of crypto, the market did not react strongly to this development. What Do Technical Indicators Say? Godbole noted that the 30-day rate of change (ROC), a key indicator measuring Bitcoin’s momentum, is showing a “distinctive negative divergence.” This indicator is indicating weakening momentum, with Bitcoin price forming lower highs, although it is still within an ascending channel. Another noteworthy signal is the MACD histogram. The transition of this indicator into the negative territory indicates a decrease in trend strength and that the upward movement may slow down. The combination of these technical developments means that Bitcoin could break out of the current ascending channel and retest the $100,000 psychological support level. Long-Term Outlook Still Positive Despite all these short-term risks, the overall outlook remains positive. In particular, the “golden cross” formed by the intersection of the 50- and 200-day simple moving averages (SMA) indicates that the long-term uptrend continues. According to analysts, this short-term correction can be considered a healthy consolidation process and will not shake the foundations of the bull market. However, investors are advised to closely monitor technical indicators. *This is not investment advice. Continue Reading: Is a Correction Coming for Bitcoin (BTC)? Here Are Analyst Views and Technical Data

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