Bitcoin ($BTC) Price Prediction for May 29: Can Bulls Hold $108K As Momentum Stalls?
After failing to extend its breakout above $110,400, the Bitcoin price today is consolidating near $108,800 as short-term momentum slows. The broader Bitcoin price action has remained range-bound since the May 21 peak near $111,889, with technical indicators now signaling caution. With the daily trend still positive, but lower timeframes showing weakness, investors are asking: why is Bitcoin price going down today despite a strong macro backdrop?
What’s Happening With Bitcoin’s Price?
On the 4-hour chart, Bitcoin price remains in a tightening structure between $108,200 and $110,400. The recent drop from the upper bound has pushed BTC back below the 20 and 50 EMA lines ($109,144 and $108,244), while the price now flirts with Bollinger Band midlines and support clusters near $108,500.
From a pattern perspective, the structure resembles a rising wedge breakdown or a rounded top, especially after repeated failures to breach the $110,400–$110,800 supply zone. Volatility, as indicated by the Bollinger Bands on both 30-minute and 4-hour charts, has compressed considerably—suggesting a high-probability breakout or breakdo…
The post Bitcoin ($BTC) Price Prediction for May 29: Can Bulls Hold $108K As Momentum Stalls? appeared first on Coin Edition.
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Bitcoin ($BTC) Price Prediction for May 29: Can Bulls Hold $108K As Momentum Stalls?
After failing to extend its breakout above $110,400, the Bitcoin price today is consolidating near $108,800 as short-term momentum slows. The broader Bitcoin price action has remained range-bound since the May 21 peak near $111,889, with technical indicators now signaling caution. With the daily trend still positive, but lower timeframes showing weakness, investors are asking: why is Bitcoin price going down today despite a strong macro backdrop?
What’s Happening With Bitcoin’s Price?
On the 4-hour chart, Bitcoin price remains in a tightening structure between $108,200 and $110,400. The recent drop from the upper bound has pushed BTC back below the 20 and 50 EMA lines ($109,144 and $108,244), while the price now flirts with Bollinger Band midlines and support clusters near $108,500.
From a pattern perspective, the structure resembles a rising wedge breakdown or a rounded top, especially after repeated failures to breach the $110,400–$110,800 supply zone. Volatility, as indicated by the Bollinger Bands on both 30-minute and 4-hour charts, has compressed considerably—suggesting a high-probability breakout or breakdo…
The post Bitcoin ($BTC) Price Prediction for May 29: Can Bulls Hold $108K As Momentum Stalls? appeared first on Coin Edition.
Read More