Is the Bitcoin bull run almost over? Investors divided over BTC at $105K

The following are key points.

• BTC prices are retargeted at $105,000, increasing 2.5% over the lows of the day.

• The market is still volatile, leading to different conclusions about what BTC/USD will do next.

• Bitcoin’s bull market is in its last stages, according to some perspectives.

BitcoinBTC() attempted to rebound after a 4% plunge at the Wall Street opening on May 19, as traders diverged over bull market strength.

The BTC Price Zone is $106,000

The Data of Cointelegraph Markets Pro You can also find out more about the following: TradingView BTC/USD reached $104,500 today, a 2.5% increase from its previous low.

Although the pair experienced a brief volatility at the close of the week, it was still able to maintain a steady price. highest ever recorded Bulls quickly lose their control.

Everyone had different opinions about the timing or possibility of new record highs.

“This is exactly what Bitcoin needs to be doing,” Rekt capital is an optimist wrote In part, his latest X-analysis.

“Needs to hold ~$104400 as support to position itself for a successful post-breakout retest.”

Daan Crypto Trades, an established trader in the cryptocurrency market, identified $102,000 as the level to be watched above spot price and $106,000 below it.

“These mark the local range low and high and price has been trading within these for most of the last 1-2 weeks,” He explained Part of the X-post. 

“Keep an eye out for a clean break below either of these. So far, price has not sustained above or below for more than a day.”

Glassnode also had the $106,000 area on its radar.

“BTC’s price surge stalled just below $106.6K – a level with 31K $BTC held at that cost basis,” It is a good idea to get a hold of someone else. observed The day of the event 

“This supply cluster originated on Dec 16 and remains unshaken. Holders haven’t redistributed, nor averaged down – making $106.6K an important level to watch in the short term.”

Trader: “Too many bearish signs to ignore” Bitcoin

Roman warned that the weekly timeframe was no longer favorable to bulls.

Related: $107K fakeout or new all-time highs? 5 things to know in Bitcoin this week

“Not a good close as we rejected resistance, created more bearish divergences, and have pumped with low volume. Stoch RSI has also topped,” He summarized. 

“Too many bearish signs to ignore, and it’s why I’ve been continuously saying the bull run is likely almost over.”

Roman referred specifically to the RSI (Stochastic Relative Strength Index) indicator. trend strength tool Now firmly in “overbought” territory.

Cointelegraph has reported that various BTC short-term price predictions, such as an “early week” target of $116,000 Along with the potential for a retracement toward $90,000.

This article contains no investment recommendations or advice. Risk is inherent in every investment decision and trade. The reader should always do research prior to making a final decision.