Bitcoin’s Rollercoaster: Will It Soar to $150K or Just Take a Nap? 🎢💰

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Key takeaways:

  • Alas! Bitcoin’s RSI has taken a tumble, dropping 15% and now languishing below the overbought threshold. How tragic! 😱

  • Bitcoin futures have donned their bearish attire, with a 43% decline in perpetual CVD. Fashionably late, I suppose! 🐻

  • Analysts, those ever-hopeful seers, predict Bitcoin could reach the lofty heights of $150,000, provided a key support level holds. Fingers crossed! 🤞

On May 23, Bitcoin (BTC) reached a dazzling all-time high of nearly $112,000, a staggering 50% increase from its April 1 lows. Yet, as the wise say, all that glitters is not gold; BTC now appears to be “showing signs of easing momentum” as it consolidates. How very poetic! 🌟

Bitcoin’s rally to $111K triggered buyer fatigue

BTC’s recent jaunt to $111,000 sent the daily relative strength index (RSI) soaring into the overbought zone at 79.6. However, like a dramatic twist in a play, “signs of easing momentum” have emerged as the RSI plummeted by 15% to 67, according to the ever-astute market intelligence firm Glassnode, who added:

“This decline may signal cooling buyer enthusiasm, reduction in upward momentum and a potential pause or reversal in the recent bullish trend.”

Additional data from Glassnode reveals that while Bitcoin futures open interest (OI) rose to all-time highs and funding rates increased with BTC’s all-time highs, the perpetual CVD trended lower, hinting at “stronger sell-side flows” and a more cautious stance among traders. How very sensible! 🧐

The chart below illustrates that Bitcoin’s perpetual CVD has plummeted to -$608.2 million from -$425.4 million, marking a 43% decrease. A veritable tragedy for the bulls!

Glassnode added:

“The persistent decline in CVD reflects bearish sentiment, highlighting dominant sell-side pressure in Bitcoin’s futures market.”

Bitcoin traders set $150,000 BTC price target

Data from CryptoMoon Markets Pro and TradingView revealed Bitcoin trading at $109,600 on May 27. BTC has closed above $106,000 for the last seven days, reinforcing the importance of this level to buyers. A round of applause, please! 👏

“Bitcoin is still holding above the 106K level,” proclaimed analyst AlphaBTC in a May 27 post on X. How reassuring! 😌

An accompanying chart depicted Bitcoin trading in an ascending channel in the 12-hour timeframe, with a BTC price target above $120,000. A lofty ambition indeed!

In a May 22 X post depicting a similar technical setup, AlphaBTC mused:

“After taking the all-time high, I am watching how $BTC performs over the next couple of days. Ideally, it blasts up and shows strength to leave the breakout to be tested in the future.”

MN Capital founder Michael van de Poppe declared Bitcoin is “looking to attack” all-time highs, but it may retest the $102,000 level before relaunching higher toward $115,000 and beyond. He added:

“Up we go.”

Using Fibonacci retracement levels, Titan of Crypto predicted a cycle top of $135,000 for BTC price if it repeated a 2024 pattern in the weekly timeframe. How delightfully optimistic! 🌈

#Bitcoin 100% Fibonacci Extension at $135,000 🎯#BTC is replicating the same pattern.

— Titan of Crypto (@Washigorira) May 27, 2025

Fellow analyst Rekt Capital shared his Bitcoin price discovery roadmap, revealing that BTC was “transitioning into Price Discovery Uptrend 2,” as shown in the chart below. A thrilling journey, indeed!

This mirrors BTC’s price action between January 2024 and March 2024, when BTC/USD rallied more than 91% to its previous all-time highs above $73,000. According to the analyst, if the same scenario were to play out, BTC could reach its next peak of around $150,000. How utterly riveting! 🎉

As CryptoMoon reported, Bitcoin is on the lookout for its next catalyst to reach the target of $155,000 after successfully retesting the key level at $106,000. A most dramatic conclusion awaits! 🎭

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2025-05-27 14:19