{"id":130204,"date":"2025-05-29T06:16:05","date_gmt":"2025-05-29T06:16:05","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=130204"},"modified":"2025-05-29T06:16:05","modified_gmt":"2025-05-29T06:16:05","slug":"bitcoin-in-pivot-zone-as-potential-consolidation-looms-analyst","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=130204","title":{"rendered":"Bitcoin in \u2018pivot zone\u2019 as potential consolidation looms: Analyst"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoin markets could be in for another prolonged period of consolidation if there isn\u2019t more buying pressure this week, says analyst Willy Woo.\u00a0<br \/>\nThe strength of Bitcoin\u2019s (BTC) run from $75,000 on April 7 to its all-time high just below $112,000 on May 22 \u201cis starting to break down,\u201d Woo wrote to X on May 28.\u00a0<br \/>\n\u201cThis week is absolutely critical,\u201d he said. \u201cIf we do not get follow-through, then we will be up for another consolidation period.\u201d<br \/>\nWoo said that in the short term, \u201clate comer speculators\u201d are taking long positions while potential profit taking \u201cis ready to dump\u201d as seen in the Bitcoin Spent Output Profit Ratio (SOPR), which is a measure of the price paid divided by the price sold.\u00a0<br \/>\n\u201cThis week\u2019s spot buying will strongly influence the next 1-2 months of price action. We are in a pivot zone.\u201d\u00a0<br \/>\nBitcoin short-term models. Source: Willy Woo\u00a0On the positive side, he said the risk signal is trending downward, explaining that \u201cbuy-side liquidity is dominating\u201d in the broader environment. \u201cWe are setting up for another solid run on the long time frame,\u201d he said.\u00a0<br \/>\nRelated: Bitcoin price will reach $130K or even $1.5M, top bulls say<br \/>\nThis week\u2019s rebound in US consumer sentiment may help boost market risk appetite in the short term, Bitunix analysts said in a note shared with Cointelegraph.<br \/>\n\u201cWe need to be alert to the technical pressure zone and the risk of a potential pullback,\u201d they said, adding Bitcoin\u2019s short-term pressure is around $110,800, where most of the past rebounds have stopped, and which is the core of the war between the bulls and the bears.\u00a0<br \/>\n\u201cSupport at $108,000 is the main long defense zone over the past two days. If it breaks down, it may trigger profit-taking pressure and turn into a short bias structure.\u201d<br \/>\nBig Bitcoin price predictions<br \/>\nMeanwhile, President Donald Trump\u2019s eldest sons, Donald Jr. and Eric, both think Bitcoin could clear $170,000 by the end of 2026, according to their predictions on stage May 28 at the Bitcoin 2025 conference in Las Vegas.\u00a0<br \/>\nBitcoin pioneer Adam Back had an even bolder prediction that BTC was going to $1 million in 5 years.\u00a0<br \/>\nBitcoin was trading at $107,785 on Coinbase at the time of writing, according to Tradingview.\u00a0<br \/>\nIt has slid 1.2% over the past 24 hours and failed to gain more momentum above $108,000 in early trading on May 29.\u00a0<br \/>\nMagazine: Bitcoin bears eye $69K, CZ denies WLF \u2018fixer\u2019 rumors: Hodler\u2019s Digest<a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-pivot-zone-potential-consolidation-analyst?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoin markets could be in for another prolonged period of consolidation if there isn\u2019t more buying pressure this week, says analyst Willy Woo.\u00a0 The strength of Bitcoin\u2019s (BTC)&hellip; <\/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\/130204"}],"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=130204"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/130204\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=130204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=130204"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=130204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}