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Bitcoin holds near $73K as bearish bets unwind and selling pressure eases.

Technical Signals
29 May 2026
Coinpaper
View Source
Neutral
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Bitcoin is trading near $73,000 amid mixed signals from analysts. One chart suggests weakening bullish momentum with a potential five-wave decline, indicating buyers may be losing short-term control and pointing to support levels around $69,900 to $72,900. Another analysis shows that short sellers are closing positions, reducing selling pressure and possibly allowing a short-term bounce. Bitcoin needs to hold above the $72,500 to $73,000 support zone to attempt a recovery toward $74,500 and higher resistance levels near $76,000 and $82,750. Failure to hold support could lead to further declines toward $64,974 or lower.

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