Bitcoin (BTC) price declines following its inability to overcome critical resistance levels. From a technical analysis point of view, the market is likely to experience further declines in the coming days. The focus will be on how BTC can sustain itself at support levels.
At the time of writing, BTC is trading at $74,659, with a 24-hour trading volume of $34.39 billion and a market capitalization close to $1.50 trillion. Over the last 24 hours, the BTC price has declined by 3.39%, showing increasing pressure on the downside as selling activity strengthens across the market.
Also Read | Bitcoin Price Coils for Major Move as AI Tokens Ignite Explosive Rally
Bitcoin Price Shows Bearish Market Structure
On May 23, 2026, the crypto analyst Crypto Patel provided an analysis of the Bitcoin price, where he asked if the same formation would be repeated, which can finally culminate in the $50K level.
The analysis reveals that the Bitcoin price has been making an impulse swing through the significant trendline support level at $88K, rejected by a bearish order block and a higher time frame breakout. In the aftermath of this price action, the BTC price has fallen back to a corrective pattern in the supply zone.
From the perspective of the scenario presented, the likelihood that the Bitcoin price will be pushed lower towards the level of $60K will emerge following a rejection from the range, while a more extended region of $50K to $47K might follow. Nevertheless, such a situation will be invalid in the case where the BTC price closes above $91.2K in two days.
BTC Momentum Weakens Across Key Indicators
Indicators based on technical analysis suggest that the driving force of the Bitcoin price trend may be declining. The current RSI has declined to 37.54, which is lower than its average reading of 51.21. This shows a slower pace of the upward movement towards an overbought state and implies more power of sellers.
Furthermore, the price of BTC is lower than the 20-day simple moving average of $79,061, with the latest price close to $74,659
The MACD strategy is also indicating a bearish trend. Here, the value of the MACD line is -751.87 and is trading below the signal line value, which is -312.25. The histogram is also falling lower and lower. The reason behind this is that there is a rising downward momentum for the price of BTC.
Key Levels to Watch in BTC Price Movement
Should the prevailing weakness persist, the BTC/USD pair could be under threat to retest its next support area at $72,610 during the upcoming periods.
Such a move could raise the odds of a corrective phase towards more liquid levels that have been discussed earlier. At the moment, investors’ attention remains focused on the ability of the BTC price to defend itself against lower levels.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read | ASTER Price Moves into a Tight Squeeze Pattern: Is a Major Breakout Imminent?
