- Bitcoin’s uptrend stays intact despite a pullback from $111K, with key support at $103K and resistance near $110K.
- RSI at 61.33 and flattening MACD histogram signal cooling momentum, pointing to likely consolidation in early June.
- A breakout above $110K could drive BTC to $115K–$120K, while failure to hold $102K risks a drop to the $93K–$98K range.
Bitcoin is ending May on a mixed note, retreating from a historic high while maintaining strong market structure. Despite a brief peak at $111,800 in mid-May, the asset pulled back to close the month at $103,580.
This performance still is an 8.85% monthly gain, supported by broader optimism across the crypto market. The crypto market total market cap holds steady at $3.25 trillion, indicating growing real-world engagement.
The Altcoin Season Index, at 16/100, confirms Bitcoin’s continued dominance. While sentiment leans bullish, the latest correction raises concerns about short-term stability heading into June.
Resistance and Support Zones
Bitcoin is locked in a strong uptrend that began in late 2023. Price action shows consistent higher highs and higher lows, a bullish indicator. However, the recent failure to sustain levels above $110,000 signals strong overhead resistance.
At press time, Bitcoin is trading well above the 200-day moving average ($102K) but now tests the important $107,000 level, which coincides with its 50-day moving average. A golden cross occurred earlier in May, strengthening the medium-term outlook.
Volume patterns show growing interest but also highlight caution. Spikes in trading activity during April’s breakout and May’s peak align with price volatility. The recent decline from $111K to $103K occurred with moderate volume, suggesting profit-taking rather than broad sell-offs.
Key Indicators Point to Diminishing Momentum
Technical indicators show that Bitcoin’s bullish momentum may be cooling. The RSI has dropped from overbought levels and currently is at 61.33, down from highs above 70.
Although still above the neutral 50 mark, the trend suggests a consolidation phase. The MACD also is bullish, with the MACD line at 5,283.43 and signal line at 3,945.71. However, the histogram has flattened to +1,337.72, indicating slowing upward pressure.
These developments align with the recent pullback, emphasizing the importance of maintaining support levels. Sustained RSI above 60 and renewed MACD divergence would support a renewed rally.
Trend Continuity Depends on June’s Opening Moves
The broader bullish outlook remains intact for now. If Bitcoin holds above the $103,000 support, the uptrend may continue. Any move below that level could lead to a further slide toward the 200-day moving average at $102,000.
Price action between $102K and $110K is important. A successful retest and bounce from these zones would support continued upside. Meanwhile, another rejection at $100K could lead to bearish pressure.
Potential June Price Range Scenarios
On the upside, if BTC surges above $105,000 and breaks past $110,000 with volume support, it may test $115,000. Should momentum build, the price could reach between $117,000 and $120,000.
However, if Bitcoin breaks below $103,000 and fails to find support at $102,000, a correction toward $93,000 to $98,000 may follow. Overall, Bitcoin enters June with solid medium-term strength but faces key resistance and support levels.
How prices behave around $107K and $110K will define the trend. With momentum indicators slightly retreating and volumes stabilizing, the market may consolidate before its next decisive move.
