Source: Cointelegraph.com NewsKey takeaways:<\/p>\n
Bitcoin dropped over 4.5% on May 19, confirming a bearish divergence and threatening a break below $100,000.
\nAnalysts highlight $97,000\u2013$98,500 as key support that the bulls must hold.
\nA potential inverse head-and-shoulders pattern points to a retest of $91,000 before any bullish continuation.<\/p>\n
Bitcoin (BTC) is down over 4.5% from its intraday high on May 19, falling to around $102,000 in its worst daily drop in over a month. Source: Cointelegraph.com NewsKey takeaways: Bitcoin dropped over 4.5% on May 19, confirming a bearish divergence and threatening a break below $100,000. Analysts highlight $97,000\u2013$98,500 as key support that the bulls… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129523"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129523"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129523\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129523"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nBTC\/USD daily price chart. Source: TradingViewBTC\u2019s drop accompanied downside moves elsewhere in the risk market, prompted by Moody\u2019s latest downgrade of the US government due to a rising budget deficit and the lack of a credible fiscal consolidation plan.
\nThe decline confirms a bearish divergence and, combined with other technical factors, raises the risk of a BTC price breakdown below $100,000, a key support level.
\nBitcoin\u2019s bearish divergence hints at sub-$100K
\nBitcoin\u2019s price action showed technical weakness ahead of its May 19 sell-off.
\nOn May 19, BTC pushed to a new local high above $107,000, but its relative strength index (RSI) printed a lower high, confirming a classic bearish divergence.
\nSource: BluntzThis discrepancy between price and momentum is often a precursor to a trend reversal, and in this case, it played out with a swift 4.5% intraday decline. Analyst Bluntz warned traders to \u201cbe careful with [placing] longs.\u201d
\nSwissblock analysts observed that Bitcoin \u201cgrabbed liquidity\u201d above the $104,000\u2013$106,000 resistance range but failed to sustain a breakout.
\nBitcoin\u2019s price vs. BTC onchain and trading volume. Source: SwissblockThe rejection pushed the price back into a prior volume-heavy zone, with immediate support between $101,500 and $102,500 now under pressure.
\nSwissblock identifies the $97,000\u2013$98,500 range as a key downside target based on historical onchain volume and trading activity if the $101,500-102,500 area fails to hold.
\nBitcoin\u2019s H&S pattern targets $91,000
\nOn the three-day chart, Bitcoin is forming the right shoulder of a potential inverse-head-and-shoulders pattern.
\nWhile typically bullish in the long term, this setup implies a short-term retest of the 50-period exponential moving average (50-period EMA; the red wave) near $91,000.
\nBTC\/USD three-day price chart. Source: TradingViewThe chances of such a drop have increased since BTC failed to close above the critical $107,000 neckline level, the same zone that triggered bearish reversals in December 2024 and January 2025.
\nRelated: Metaplanet scoops 1,004 Bitcoin in 2nd-biggest buy ever
\nA rebound from the $91,000 zone toward the neckline at around $107,000 could increase Bitcoin\u2019s odds of rising toward $150,000.
\nThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"