What to know:
- Bitcoin price rejected near $80,000, signaling weakening bullish momentum after recent gains and increasing profit-taking pressure.
- Technical indicators show caution, with RSI dropping below its average and MACD pointing to rising bearish pressure.
- If selling continues, Bitcoin price could test key support zones near $75,434 and $72,146 while resistance remains strong at $81,598.
Bitcoin price seems to be exhibiting some early indications of losing its upward momentum in the wake of its most recent gains. The current trends suggest that there are now higher levels of profits being taken out, which is preventing further growth. Overall, all eyes will now be on how the Bitcoin price holds up in the coming trading periods.
At the time of writing, BTC is trading at $78,451, with a 24-hour trading volume of $23.18 billion and a total market capitalization of $1.57 trillion. The BTC price has recorded a slight gain of 0.82% over the last 24 hours, but overall movement remains uneven as the market struggles to build stronger upward momentum.
Also Read |Ethereum Price Prediction Shows Over 110% Upside Toward $4,800 Breakout Zone
Bitcoin Price Risks Correction Ahead
On May 17, 2026, a popular crypto analyst, Ali Martinez, cautioned that the Bitcoin market could be in an overheated state. According to him, the mean realized profit margins have risen to about 17%, indicating that a considerable number of players in the market are holding profitable positions. Previously, such levels were followed by increased selling pressure as people tried to book their gains, thus restraining any rise in the BTC price.
He further emphasized the importance of an important parallel from the past. It was the last time that the achieved profit margin touched such levels while the Bitcoin price was also under pressure amid resistance around its 200-day moving average back in March 2022. Such a scenario ultimately ended in a local top and then a downward correction.
BTC Price Loses Key Momentum
Technically, it appears that the Bitcoin price is losing momentum following a failure to remain above the mark of $80,000. The RSI indicator fell to 48.95, which is below its average of 60.53. This indicates that sellers have gained the upper hand. Currently, the BTC price stands at $78,451, while there is strong resistance at the 200-day moving average at $81,598.
Furthermore, the MACD line currently holds at 946.07, and the histogram is down at -521.02, indicating increased negative pressure. Should the sell-off continue, the Bitcoin price may head for critical support zones like $75,434 and $72,146.
Overall, the Bitcoin price is currently in a delicate phase where factors such as technical analysis and profit-taking are contributing to its direction. Even though the current support lines are not broken, the future move will be dependent on whether new buying power emerges or if selling pressure increases.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read | FARTCOIN Price Analysis: Failed Breakout And Weak Support Raise Downside Risks
Be the first to comment