‎Bitcoin Stalls at $108K After Aggressive Rally

‎BTCUSD Market Analysis- May 30

‎Bitcoin’s recent surge to the $108,000 mark signals a potential turning point, as signs of exhaustion marks a temporary retracement .

‎Bitcoin (BTCUSD) Key Levels

‎Support Levels: $75,000.00, $60,800.00
‎Resistance Levels: $91,700.00, $108,000.00

‎BTCUSD Long-Term Trend: Bullish

‎Bitcoin has maintained a strong bullish trajectory since February 2024, marked by significant upward momentum and the formation of two major peaks—one in March 2024 and another in early 2025. Following the January 2025 high, BTC underwent a notable correction, retracing towards the established bullish trendline.
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‎This retracement found support at both the trendline and the key $75,000 demand level, where bullish interest reignited strongly. The market responded with aggressive bullish momentum, characterized by consecutive large bullish candlesticks and minimal pullbacks, propelling BTC toward new highs.
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‎However, as price approached the $108,000 supply zone, bullish momentum showed signs of exhaustion. Recent price action reveals a loss of upward steam, with the daily candlesticks now trading below the Moving Average—an early indication of a potential short-term bearish retracement within the larger bullish trend.

‎BTCUSD Medium-Term Trend: Bearish

‎On the 4-hour timeframe, a transition in market structure is evident. The bullish sequence of higher highs has been interrupted, with BTC now forming lower highs—a classic signal of short-term bearish pressure.
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‎Additionally, liquidity residing below current price levels may further entice bearish movement, increasing the likelihood of a retracement. Despite this emerging bearish sentiment on lower timeframes, the broader market structure remains bullish. Any pullback at this stage is expected to be temporary, providing potential entry opportunities for long-term buyers.

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