Bitcoin is facing a "zone of reversal" - Will a correction occur?

The Bitcoin market may enter another prolonged accumulation phase if there is not enough strong buying power this week, according to analyst Willy Woo.

He stated that the strength from the price increase of Bitcoin, from 75,000 USD on April 7 to the historical peak of nearly 112,000 USD on May 22, "is starting to weaken."

"This is a very important week. If there is no continuation of upward momentum, we will enter a prolonged accumulation phase again."

Willy Woo stated that in the short term, "late investors" are increasing their Long positions. Meanwhile, profit-taking investors may soon sell off en masse, creating short-term downward pressure, as reflected in the Bitcoin Spent Output Profit Ratio (SOPR) – a measure of the ratio between the purchase price and the selling price of Bitcoin.

"The buying power in the spot market this week will strongly affect price movements in the next 1-2 months. We are standing in the (pivot zone)."

Short-term chart of Bitcoin | Source: Willy WooIn a positive direction, Woo noted that the risk signal is trending downwards, with liquidity from the bulls dominating in the broader context.

"We are preparing for a sustainable price increase on the long-term time frame," he shared.

Analysts from Bitunix also believe that the recovery in consumer confidence in the U.S. this week could contribute to boosting short-term risk appetite.

"We need to pay attention to the technical resistance area and the risk of price correction."

Accordingly, Bitcoin is under short-term pressure around the level of 110,800 USD – an important resistance level that has repeatedly halted the recovery momentum, becoming a fiercely contested point between the bulls and bears.

"The support zone around 108,000 USD is the main defensive area in the past two days. If this level is breached, it could trigger profit-taking pressure and create a trend leaning towards the bears."

Notable Bitcoin Price Predictions

Meanwhile, President Donald Trump's two eldest sons, Donald Jr. and Eric, both predict that Bitcoin could surpass the $170,000 mark by the end of 2026, according to statements made at the Bitcoin 2025 conference held in Las Vegas on May 28. Bitcoin pioneer Adam Back made an even bolder prediction, suggesting that BTC will reach $1 million in the next 5 years.

According to data from Bitcoin Magazine, at the time of writing, Bitcoin is trading around 108,469 USD, down slightly by 0.3% in the past 24 hours.

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