{"id":53462,"date":"2025-06-02T02:48:37","date_gmt":"2025-06-02T02:48:37","guid":{"rendered":"https:\/\/emilynews.com\/blog\/?p=53462"},"modified":"2025-06-02T02:48:38","modified_gmt":"2025-06-02T02:48:38","slug":"bitcoin-traders-target-100k-and-under","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=53462","title":{"rendered":"Bitcoin traders target $100K and under?"},"content":{"rendered":"<p>Bitcoin traders eye the weekly close for cues as to where BTC price action may be headed next \u2014\u00a0but sub-$100,000 levels are already on their radar.<\/p>\n<p><strong>Key points:<\/strong><\/p>\n<ul>\n<li>\n<p data-ct-non-breakable=\"undefined\">Bitcoin RSI data forms a bearish divergence, getting traders in position for lower levels next.<\/p>\n<\/li>\n<li>\n<p data-ct-non-breakable=\"undefined\">The May monthly candle close seals 11% gains, but the weekly close is the event on the radar for market participants.<\/p>\n<\/li>\n<li>\n<p data-ct-non-breakable=\"undefined\">Areas of interest include $97,000 as well as the psychologically significant $100,000 mark.<\/p>\n<\/li>\n<\/ul>\n<p>Bitcoin sought to preserve 2024 all-time highs on June 1 after the monthly candle close delivered 11% gains.<\/p>\n<figure><img decoding=\"async\" title=\"\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-06\/01972c12-25b2-7ecf-8c19-318016bff9c6\" alt=\"\" \/><figcaption><em>BTC\/USD 1-hour chart. Source: Cointelegraph\/TradingView<\/em><\/figcaption><\/figure>\n<h2>Bitcoin RSI divergence primes traders for new lows<\/h2>\n<p>Data from\u00a0Cointelegraph Markets Pro\u00a0and\u00a0TradingView\u00a0showed BTC\/USD attempting to reclaim $105,000 into the weekly close.<\/p>\n<p>Sustained downside throughout the week brought Bitcoin back into contact with significant support levels from earlier in the bull market.<\/p>\n<p>Chief among these was the\u00a0local top from Dec. 17, 2024\u00a0at around $104,450.<\/p>\n<p>Commenting, popular trader Matthew Hyland described the weekly close level as \u201cpivotal.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">#BTC\u00a0Weekly close now pivotal\u00a0pic.twitter.com\/QFvhnVRuba<\/p>\n<p>\u2014 Matthew Hyland (@MatthewHyland_)\u00a0May 30, 2025<\/p><\/blockquote>\n<p>&nbsp;<\/p>\n<p>Hyland uploaded a chart showing a bearish divergence between price and the relative strength index (RSI) on weekly timeframes.<\/p>\n<p>RSI is a\u00a0classic trend strength indicator, which measures momentum at given price points.\u00a0<\/p>\n<p>Continuing, fellow trader Titan of Crypto warned that the divergence could have wider implications for bulls.<\/p>\n<p>\u201cA potential RSI bearish divergence is forming on the weekly chart. Still unconfirmed but worth watching,\u201d he\u00a0told\u00a0X followers on May 31.<\/p>\n<p>An accompanying chart referenced so-called fair value gaps (FVGs) as measured by Fibonacci retracement levels, these showing imbalances between buyers and sellers as price ascended to its current area.<\/p>\n<p>Two FVG zones of interest were at $97,000 and $90,000.<\/p>\n<p>\u201cAfter a +50% run, a cooldown wouldn&#8217;t be a bad thing. Healthy market structure matters,\u201d Titan of Crypto acknowledged.<\/p>\n<figure><img decoding=\"async\" title=\"\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-06\/01972c0d-a5ab-7652-b82c-f07f04d230fb\" alt=\"\" \/><figcaption><em>BTC\/USD 1-week chart with RSI data. Source: Titan of Crypto\/X<\/em><\/figcaption><\/figure>\n<h2>BTC price uptrend \u201cintact\u201d<\/h2>\n<p>Based on order book liquidity data, trader CrypNuevo suggested the $100,000 could function as a price magnet should the market fall further.<\/p>\n<p><em><strong>Related:\u00a0<\/strong><\/em><em><strong>How low can the Bitcoin price go?<\/strong><\/em><\/p>\n<p>\u201cIt&#8217;s a strong psychological level and liquidity tends to stack in these levels. Potential retest of this level first,\u201d part of an\u00a0X thread\u00a0read on the day.<\/p>\n<p>CrypNuevo maintained faith in the overall bullish market structure despite BTC\/USD dropping 8% over the past week.<\/p>\n<p>\u201cSo I think we&#8217;ll probably drop to $100k and play around there for some days &#8211; even a slight temporary drop below it to shake the market would make sense.,\u201d he concluded.\u00a0<\/p>\n<blockquote data-ct-non-breakable=\"undefined\"><p>\u201cBut in the big picture, we have the bull market support\u00a0 at $84k catching up to price; uptrend is intact; liquidity is above.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" title=\"\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-06\/01972c0e-664f-79df-9e9d-facae0359983\" alt=\"\" \/><figcaption><em>BTC order book liquidity data. Source: CrypNuevo\/X<\/em><\/figcaption><\/figure>\n<p>*********************************<\/p>\n<p>If one of the paying programs on our Monitor appeals to you, please support <em>EmilyNews<\/em> by registering for it on our website. 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Thanks and See you tomorrow!<\/p>\n<p><a href=\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2020\/11\/Reminder2-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-13137\" src=\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2025\/02\/Reminder2-1.jpg\" alt=\"\" width=\"544\" height=\"600\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin traders eye the weekly close for cues as to where BTC price action may be headed next \u2014\u00a0but sub-$100,000 levels are already on their radar. Key points: Bitcoin RSI data forms a bearish divergence, &hellip; <a title=\"Bitcoin traders target $100K and under?\" class=\"exalt-read-more\" href=\"https:\/\/emilynews.com\/blog\/?p=53462\"><span class=\"screen-reader-text\">Bitcoin traders target $100K and under?<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":53464,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5651,6],"tags":[139,3812,5652,10,159,97],"class_list":["post-53462","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptonews","category-information","tag-bitcoin","tag-cryptonews","tag-emilynews","tag-hyip","tag-hyipnews","tag-hyips","exalt-entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin traders target $100K and under? - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=53462\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin traders target $100K and under? - EmilyNews\" \/>\n<meta property=\"og:description\" content=\"Bitcoin traders eye the weekly close for cues as to where BTC price action may be headed next \u2014\u00a0but sub-$100,000 levels are already on their radar. 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