But key price resistance levels await, and here is a strong bearish stronghold for BTC bulls to watch out for on the daily chart.The drop from 6 May, left behind an FVG zone between $27,826 – $28,396 . Just below the FVG zone lay the 50-EMA of $27.57k . Above it lays the $28.5k resistance, a key obstacle back in the second half of March.
A negative price reaction from the above bearish zone and subsequent breach of the $26.6k support could further weaken BTC’s market structure. The next support levels to the south are the dynamic 100-EMA and $25.26k. Meanwhile, the RSI was below the mid-range, highlighting limited buying pressure. However, the CMF was above the zero mark, indicating substantial capital inflows.According to Coinglass data, BTC’s futures open interest rates hovered around $11 billion since the second half of April. This shows a neutral position in the futures market in the same period, meaning prices can go in either direction.
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