Bitcoin Technical Charts For May Turn Bearish – Will BTC Fall Again?
BeInCrypto
Analysts suggest Bitcoin faces potential bearish risks in May due to historical midterm election patterns and ongoing on-chain structural weaknesses.Summary
Bitcoin’s recent April rally is facing scrutiny as analysts point to a recurring four-year mid-term election cycle that historically results in sharp pullbacks during May. Experts cite data showing significant historical declines in previous midterm years and warn that Bitcoin remains in a structural bear market. While some institutional interest is emerging, on-chain signals, such as short-term holder profit distribution and resistance at key technical levels, suggest that further downside or a period of consolidation is likely before a new bull cycle can begin.
(Source：BeInCrypto)