Key Takeaways:
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Bitcoin dropped more than 4.5% on May 19, confirming a difference -Bearish and threatened a break below $ 100,000.
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Analysts feature $ 97,000- $ 98,500 as the main support that Bulls should handle.
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A potential opposite head-and-shoulders pattern points to a retest of $ 91,000 before any bullish continuity.
Bitcoin (Btc) is more than 4.5% from his intraday high on May 19, falling around $ 102,000 in the worst -day falling over a month.
BTC collapse is accompanied by downside moves elsewhere in the risk market, prompted by Moody’s latest collapse of the US government due to a rising budget deficit and the lack of a convincing plan of integration -with the fiscal.
The denial proves a difference -bearish and, combined with other technical factors, enhances the risk of a BTC price collapse below $ 100,000, a major support level.
The Bitcoin’s Bearish Divergence Hints in Sub- $ 100k
Bitcoin price action showed technical weakness before May 19 seller.
On May 19, BTC pushed a new local high over $ 107,000, but its Relative Strength Index (RSI) Print of a lower high, proving a classic difference -a bearish variety.
This difference is different between price and momentum is often a signal with a recurrence, and in this case, it plays a fast 4.5% intraday collapse. Analyst Bluntz warned entrepreneurs to “take care of (putting) the long ones.”
Swissblock analysts noticed That Bitcoin “holds liquidity” above the $ 104,000- $ 106,000 resistance but failed to maintain a breakout.
The decline pushed the price back to a prior volume of heavy zone, with immediate support between $ 101,500 and $ 102,500 now under pressure.
Swissblock recognized the $ 97,000- $ 98,500 range as a major target downside based on the historical volume of onchain and trading activity if the $ 101,500-102,500 area failed.
Bitcoin’s H&S pattern targets $ 91,000
In the three-day chart, Bitcoin forms the right shoulder of a potential reversal-head-and-and-shoulder pattern.
While usually bullish in the long run, this setup indicates a short-term retest of 50-period exponential transfer of average (50-per-period EMA; the red wave) close to $ 91,000.
Opportunities such as a collapse have increased since BTC failed to close above the critical $ 107,000 neckline level, the same zone that triggered returns in December 2024 and January 2025.
Related: Metaplanet scoops 1,004 bitcoin in 2nd-biggest buy ever
A rebound from $ 91,000 zone to neckline around $ 107,000 can rise Bitcoin’s odds rising up to $ 150,000.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
