Bitcoin Consolidates at Highs—Analysts Predict a Pullback to $100,000
TradingKey – Bitcoin continues to hover below $110,000, with technical indicators ROC and MACD signaling a potential correction.
On Tuesday, May 27, the crypto market showed signs of weakening, with Bitcoin (BTC) entering a consolidation phase. As of publication, BTC slipped 0.87%, currently trading at $108,752.
Bitcoin Price Chart – Source: TradingView.
Yesterday, U.S. President Donald Trump announced a one-month extension on imposing 50% tariffs on the EU, fueling Bitcoin’s surge past $110,000, marking three consecutive days of gains. However, U.S. stock markets were closed for Memorial Day, leading to a noticeable pullback in BTC price, while bearish sentiment among analysts increased.
According to Coindesk analyst Omkar Godbole, Bitcoin’s 30-day Rate of Change (ROC) and MACD histogram are exhibiting bearish divergence, signaling a possible decline.
- BTC could break below its current ascending channel, potentially retesting the $100,000 support level.
- If this scenario unfolds, Bitcoin may experience a 7% correction from its current price levels.
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