4 days ago
“This week is perfectly critical,” said expert Willy Woo, who cautioned that much consolidation could beryllium up for Bitcoin.
Bitcoin markets could beryllium successful for different prolonged play of consolidation if determination isn’t much buying unit this week, says expert Willy Woo.
The spot of Bitcoin’s (BTC) tally from $75,000 connected April 7 to its all-time precocious conscionable beneath $112,000 connected May 22 “is starting to interruption down,” Woo wrote to X connected May 28.
“This week is perfectly critical,” helium said. “If we bash not get follow-through, past we volition beryllium up for different consolidation period.”
Woo said that successful the abbreviated term, “late comer speculators” are taking agelong positions portion imaginable nett taking “is acceptable to dump” arsenic seen successful the Bitcoin Spent Output Profit Ratio (SOPR), which is simply a measurement of the terms paid divided by the terms sold.
“This week’s spot buying volition powerfully power the adjacent 1-2 months of terms action. We are successful a pivot zone.”
Bitcoin short-term models. Source: Willy Woo On the affirmative side, helium said the hazard awesome is trending downward, explaining that “buy-side liquidity is dominating” successful the broader environment. “We are mounting up for different coagulated tally connected the agelong clip frame,” helium said.
Related: Bitcoin terms volition scope $130K oregon adjacent $1.5M, apical bulls say
This week’s rebound successful US user sentiment whitethorn assistance boost marketplace hazard appetite successful the abbreviated term, Bitunix analysts said successful a enactment shared with Cointelegraph.
“We request to beryllium alert to the method unit portion and the hazard of a imaginable pullback,” they said, adding Bitcoin’s short-term unit is astir $110,800, wherever astir of the past rebounds person stopped, and which is the halfway of the warfare betwixt the bulls and the bears.
“Support astatine $108,000 is the main agelong defence portion implicit the past 2 days. If it breaks down, it whitethorn trigger profit-taking unit and crook into a abbreviated bias structure.”Big Bitcoin terms predictions
Meanwhile, President Donald Trump’s eldest sons, Donald Jr. and Eric, some deliberation Bitcoin could wide $170,000 by the extremity of 2026, according to their predictions connected signifier astatine the Bitcoin 2025 league successful Las Vegas, connected May 28.
Bitcoin pioneer Adam Back had an adjacent bolder prediction that BTC was going to $1 million successful 5 years.
ADAM BACK JUST SAID #BITCOIN IS GOING TO $1 MILLION IN 5 YEARS 🚀 pic.twitter.com/BA3ToeW3Mg
— The Bitcoin Conference (@TheBitcoinConf) May 28, 2025
Bitcoin was trading astatine $107,785 connected Coinbase astatine the clip of writing, according to Tradingview.
It has slid 1.2% implicit the past 24 hours and failed to summation much momentum supra $108,000 successful aboriginal trading connected May 29.
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