Bitcoin Price Trend Above $100,000: The Good News | Crypto News
Although the previous 24 hours have been characterised by heavy selloffs, Bitcoin is still at the moment holding above the $100,000 degree, trading around $103,700 as of the time of writing. Notably, indicators of exhaustion are also starting to floor for Bitcoin, particularly in the previous 48 hours.
While long-term indicators counsel a bullish continuation for the Bitcoin price, short-term fashions point out a breakdown of bullish energy, significantly as the cryptocurrency approaches the important $100,000 assist zone.Â
This sentiment is relayed by common crypto analyst Willy Woo, who shared the good and unhealthy information based mostly on Bitcoin’s present technicals.
Good News: A Bullish Long-Term Signal Still Intact
According to Woo, one of the strongest long-term alerts, the Bitcoin Risk Signal, is at the moment trending downwards. This drop signifies that buy-side liquidity is at the moment dominant in the long-term surroundings, setting the stage for one other robust leg upward.
The decrease the risk studying, the safer it’s to maintain or accumulate Bitcoin, and this signal’s present decline reveals a comparatively low-risk surroundings for long-term buyers.
Woo famous that this long-term setup is unbroken, and with Bitcoin trading properly above the psychological six-figure mark, the momentum is still in favor of the bulls in the long time period.
At the time of writing, the native risk model, as proven in the chart below, is at the moment in the mid-range, having declined from peak ranges in early 2025, and is anticipated to proceed trending downwards. In one other evaluation, Willy Woo famous the next important transfer may push it above $114,000 and set off liquidations of short positions.
Bad News For Bitcoin Price
Although the long-term image is still favorable, the short-term fashions, including the Speculation and SOPR (Spent Output Profit Ratio) metrics, are flashing warning. Using this indicator, Woo famous that the energy of the rally from $75,000 to $112,000 has began to weaken, particularly with flat capital influx in the previous three days.Â
Keeping this in thoughts, Bitcoin’s price motion this week is important. “If we do not get follow through, then we will be up for another consolidation period,” the analyst stated. If spot shopping for fails to choose up strongly in the approaching week, which is the first week of June, particularly with U.S. markets reopening after a long weekend, there will likely be a likelihood for a bearish pivot.
The good and unhealthy information will be summed up as follows: if shopping for stress opens up shortly, Bitcoin may break above $114,000 and head toward the next main liquidity zone between $118,000 and $120,000. Failure to push larger may affirm bearish divergences and set the stage for one other spherical of consolidation.
At the time of writing, Bitcoin is trading at 103,700, down by 1.5% and 3.9% in the previous 24 hours and seven days, respectively.
Featured image from Unsplash, chart from TradingView
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