Bitcoin Price Prediction for May 28: BTC Struggles Below $110K Resistance
After tagging a local top near $110,800 earlier this week, the Bitcoin price today is hovering near $108,750, reflecting mild intraday pressure. While the broader uptrend remains intact, the recent pullback has brought short-term caution into focus. With key indicators flashing mixed signals, traders are closely watching the $108K–$110K zone for clarity on Bitcoin’s next leg.
The current Bitcoin price action comes after a strong upside breakout from the $95K–$100K range, where buyers established a solid base. But as price now trades beneath a short-term triangle resistance, momentum appears to be fading into consolidation. The question is, Why Bitcoin price going down today, and could this be the start of a broader pullback or just a healthy pause before continuation?
What’s Happening With Bitcoin’s Price?
On the 4-hour chart, Bitcoin recently broke down from a rising wedge pattern and is now testing the lower boundary of a symmetrical triangle structure, with support near $108,000 and resistance capped around $110,600. This compression follows an aggressive rally from …
The post Bitcoin Price Prediction for May 28: BTC Struggles Below $110K Resistance appeared first on Coin Edition.
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Bitcoin Price Prediction for May 28: BTC Struggles Below $110K Resistance
After tagging a local top near $110,800 earlier this week, the Bitcoin price today is hovering near $108,750, reflecting mild intraday pressure. While the broader uptrend remains intact, the recent pullback has brought short-term caution into focus. With key indicators flashing mixed signals, traders are closely watching the $108K–$110K zone for clarity on Bitcoin’s next leg.
The current Bitcoin price action comes after a strong upside breakout from the $95K–$100K range, where buyers established a solid base. But as price now trades beneath a short-term triangle resistance, momentum appears to be fading into consolidation. The question is, Why Bitcoin price going down today, and could this be the start of a broader pullback or just a healthy pause before continuation?
What’s Happening With Bitcoin’s Price?
On the 4-hour chart, Bitcoin recently broke down from a rising wedge pattern and is now testing the lower boundary of a symmetrical triangle structure, with support near $108,000 and resistance capped around $110,600. This compression follows an aggressive rally from …
The post Bitcoin Price Prediction for May 28: BTC Struggles Below $110K Resistance appeared first on Coin Edition.
Read More