Bitcoin (CRYPTO: BTC) is falling behind the AI trade, with a bounce around $71,000 being key for long-term market structure, according to analysts.
BTC Key Levels
In a May 30 "Casual Friday" episode, prominent crypto traders Cred and DonAlt said Bitcoin's monthly close is critical after the asset rejected near the $82,000-$83,000 monthly resistance zone.
The traders' said Bitcoin is stuck between rejected resistance near $82,000 and major support near $71,000, which they described as key for the next few months.
A break below that area would put Bitcoin back inside its prior range and weaken the bullish breakout structure. "If that fails, then I think any signs of relief are kind of gone," Cred said.
