| COINOTAG recommends • Exchange signup |
| 💹 Trade with pro tools |
| Fast execution, robust charts, clean risk controls. |
| 👉 Open account → |
| COINOTAG recommends • Exchange signup |
| 🚀 Smooth orders, clear control |
| Advanced order types and market depth in one view. |
| 👉 Create account → |
| COINOTAG recommends • Exchange signup |
| 📈 Clarity in volatile markets |
| Plan entries & exits, manage positions with discipline. |
| 👉 Sign up → |
| COINOTAG recommends • Exchange signup |
| ⚡ Speed, depth, reliability |
| Execute confidently when timing matters. |
| 👉 Open account → |
| COINOTAG recommends • Exchange signup |
| 🧭 A focused workflow for traders |
| Alerts, watchlists, and a repeatable process. |
| 👉 Get started → |
| COINOTAG recommends • Exchange signup |
| ✅ Data‑driven decisions |
| Focus on process—not noise. |
| 👉 Sign up → |
- Bitcoin’s high timeframe (HTF) outlook remains bullish, despite the potential for a deeper retracement.
- Exchange-Traded Fund (ETF) inflows provided a temporary boost, but Bitcoin’s downtrend appears to continue.
- Decreasing accumulation of Bitcoin could lead to further depreciation due to decreased demand.
Bitcoin’s bullish outlook is challenged as the cryptocurrency faces a potential deeper retracement, despite temporary buoyancy from ETF inflows.
Bitcoin’s Downtrend Continues Despite Bullish Spirits
Bitcoin [BTC] exhibited bearish tendencies on lower timeframe price charts after peaking at $65.5k at the start of the week on Monday, May 6th. The $63.3k support level succumbed to selling pressure and was converted to resistance on May 7th. Reports of a decrease in BTC accumulation could lead to further depreciation due to a lack of demand. Despite promising inflows on Monday, Bitcoin’s outlook remains bearish.
Bitcoin’s $62.1k Level Falters as Downtrend Strengthens
Bitcoin was previously trading within a range with lows at $59.7k. Price action on May 1st breached this level, and the $65k region was retested as resistance, indicating a bearish market structure. The Relative Strength Index (RSI) on the daily timeframe also dropped below the neutral 50, signaling bearish momentum. However, the On-Balance Volume (OBV) surpassed a local resistance level and continued to defend it at the time of writing. Despite this, it is likely that Bitcoin will slump toward the $55k low or further downward in the coming weeks as selling pressure intensifies and liquidity to the south could draw prices lower.
Why Bitcoin Cannot Bullishly Reverse Instantly
After a strong trend, prices need time to consolidate. By breaking below the range low at $59.7k, Bitcoin suggests that the consolidation phase is not yet upon us and that the downtrend continues. The liquidity pockets at $56k and $51.5k are the next attractive zones for Bitcoin. To the north, the $68.5k-$70k region presents an interesting point for a bearish reversal. Given the technical factors, a move southward appears more likely.
| COINOTAG recommends • Professional traders group |
| 💎 Join a professional trading community |
| Work with senior traders, research‑backed setups, and risk‑first frameworks. |
| 👉 Join the group → |
| COINOTAG recommends • Professional traders group |
| 📊 Transparent performance, real process |
| Spot strategies with documented months of triple‑digit runs during strong trends; futures plans use defined R:R and sizing. |
| 👉 Get access → |
| COINOTAG recommends • Professional traders group |
| 🧭 Research → Plan → Execute |
| Daily levels, watchlists, and post‑trade reviews to build consistency. |
| 👉 Join now → |
| COINOTAG recommends • Professional traders group |
| 🛡️ Risk comes first |
| Sizing methods, invalidation rules, and R‑multiples baked into every plan. |
| 👉 Start today → |
| COINOTAG recommends • Professional traders group |
| 🧠 Learn the “why” behind each trade |
| Live breakdowns, playbooks, and framework‑first education. |
| 👉 Join the group → |
| COINOTAG recommends • Professional traders group |
| 🚀 Insider • APEX • INNER CIRCLE |
| Choose the depth you need—tools, coaching, and member rooms. |
| 👉 Explore tiers → |
Conclusion
Despite a temporary boost from ETF inflows, Bitcoin’s bearish trend continues. Decreasing accumulation could lead to further depreciation, and technical indicators suggest a move southward is more likely. Investors should remain cautious and monitor market developments closely.
| COINOTAG recommends • Members‑only research |
| 📌 Curated setups, clearly explained |
| Entry, invalidation, targets, and R:R defined before execution. |
| 👉 Get access → |
| COINOTAG recommends • Members‑only research |
| 🧠 Data‑led decision making |
| Technical + flow + context synthesized into actionable plans. |
| 👉 Join now → |
| COINOTAG recommends • Members‑only research |
| 🧱 Consistency over hype |
| Repeatable rules, realistic expectations, and a calmer mindset. |
| 👉 Get access → |
| COINOTAG recommends • Members‑only research |
| 🕒 Patience is an edge |
| Wait for confirmation and manage risk with checklists. |
| 👉 Join now → |
| COINOTAG recommends • Members‑only research |
| 💼 Professional mentorship |
| Guidance from seasoned traders and structured feedback loops. |
| 👉 Get access → |
| COINOTAG recommends • Members‑only research |
| 🧮 Track • Review • Improve |
| Documented PnL tracking and post‑mortems to accelerate learning. |
| 👉 Join now → |
