Bitcoin Chart Analysis – May 31, 2025

31 Mei

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Bitcoin’s Technical Rebound Potential Increases… Time to Consider a Short-Term Long Position

Recently, Bitcoin has continued its short-term downtrend amid remarks from former President Trump and global macroeconomic uncertainty. In particular, after falling to around $103,000, bearish sentiment has spread across the market. However, from a technical perspective, this zone appears to be one worth noting from a buying standpoint.

At present, this zone aligns with the completion of a classic Bat pattern, which suggests the potential for a rebound. This pattern, one of the harmonic patterns, is considered relatively reliable due to its clear Fibonacci-based structure. Furthermore, considering that the decline unfolded in an impulsive wave and has since undergone sufficient correction, this can be interpreted as an appropriate time to enter a long position with expectations of a rebound.

Technically, a strong support reaction has been confirmed near the 103K level, which overlaps with a historical support zone and the 1.414 Fibonacci extension. This confluence is significant as it may signal the end of the selling pressure and the start of a shift in market balance.

Long Position Strategy Suggestion

In the short to mid-term, the following target prices can be set, and a staggered take-profit strategy appears effective.

First target: 106,000 — A short-term resistance level overlapping with the previous day's high

Second target: 106,900 — A midpoint that could indicate a potential breakout from the downtrend line

Third target: 107,800 — An additional expansion target if the previous high is broken

Supplementary Analysis of Market Conditions

Currently, the weekend market has begun. Historically, trading volumes tend to drop during weekends, and the market often moves sideways. This implies a period of reduced volatility and potentially unclear direction. As a result, this weekend may see a slowdown in the downtrend and the development of a sideways consolidation or bottoming structure.

In this context, rather than interpreting the ongoing downtrend as a further short opportunity, it may be more advantageous to shift toward viewing this as a long-entry opportunity. If a rebound follows the current short-term correction, and both market sentiment and technical structure align, the upward movement could unfold rather quickly — making proactive positioning essential.

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