Bitcoin markets could be in another period of prolonged consolidation if there is no more purchase pressure this week, said analyst Willy Woo.
The Bitcoin force (BTC) covers $ 75,000 on April 7 at its top of all time just below $ 112,000 on May 22 “begins to break down,” Woo wrote to X on May 28.
“This week is absolutely critical,” he said. “If we do not get follow -up, we will be ready for another period of consolidation.”
Woo said that in the short term, the “end of the end of the end” take long positions while the potential profits “is ready to empty” as shown in the production ratio spent Bitcoin (SOPR), which is a measure of the price paid divided by the price sold.
“This week’s purchases of spots will strongly influence the next 1-2 months of action on prices. We are in a pivot area. ”
On the positive side, he said that the risk signal was down, explaining that “the liquidity of the purchase dominates” in the wider environment. “We are preparing for another solid race over the long time,” he said.
In relation: The price of Bitcoin will reach $ 130,000 or even $ 1.5 million, say the bulls.
This week’s rebound in the feeling of American consumers could help stimulate the appetite for short -term market risks, Bitunix analysts said in a shared note with Cointtelegraph.
“We must be attentive to the technical pressure zone and the risk of potential withdrawal,” they said, adding that the short-term Bitcoin pressure is around $ 110,800, where most of the past rebounds have ceased, and which is at the heart of the war between bulls and bear.
“Support for $ 108,000 is the main long defense area in the past two days. If it breaks down, it can trigger for profit and turn into a short biases structure. ”
Big private prices Bitcoin
Meanwhile, President Donald Trump’s eldest sons, Donald Jr. and Eric, think that Bitcoin could erase $ 170,000 by the end of 2026, according to their predictions on May 28 at the Bitcoin 2025 conference in Las Vegas.
The Bitcoin Adam Back pioneer had an even more daring prediction that BTC went to $ 1 million in 5 years.
Bitcoin was negotiated at $ 107,785 on Coinbase at the time of writing, according to TradingView.
He slipped 1.2% in the last 24 hours and failed to earn more than $ 108,000 at the start of negotiations on May 29.
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