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Analyst: Bitcoin may experience a pullback, testing the $100,000 support level.
BlockBeats News, on May 27, Coindesk analyst Omkar Godbole said that the technical indicator 30-day rate of change (ROC), which measures the rise and fall of Bitcoin’s price over the past month, has shown a “bearish divergence” signal, and the momentum is weakening. In addition, the MACD histogram on the daily chart, a widely used indicator of trend strength and change, has turned negative, indicating a bearish turn in momentum. These signals mean that Bitcoin may break below the current ascending channel or retrace the key $100,000 support level. Nonetheless, the overall trend remains positive, in line with the recent technical pattern of the 50-day and 200-day simple moving averages (SMAs) forming a “golden cross”.