---
title: "Bitcoin Could Be Entering Critical Pullback Phase Below This Level"
url: https://thecoingazette.com/bitcoin-could-be-entering-critical-pullback-phase-below-this-level/
date: 2026-05-23
modified: 2026-05-23
author: "Coin Gazette Editorial"
description: "Bitcoin is showing increasing signs of weakness as bearish pressure continues building below a critical technical level. With key support zones now under threat and reversal patterns beginning to take..."
categories:
  - "Bitcoin"
  - "Bitcoin News"
  - "bitcoin price"
  - "btc"
  - "BTC news"
  - "btc price"
  - "btcusd"
  - "BTCUSDT"
  - "Crypto News"
tags:
  - "Bitcoin"
  - "Bitcoin News"
  - "bitcoin price"
  - "btc"
  - "BTC news"
  - "btc price"
  - "btcusd"
  - "BTCUSDT"
  - "Fibonacci Support Zone"
  - "Head and Shoulders Formation"
  - "Kamile Uray"
  - "Merry__PT"
image: https://thecoingazette.com/wp-content/uploads/2026/05/bitcoin-could-be-entering-critical-pullback-phase-below-this-level.png
word_count: 425
---

# Bitcoin Could Be Entering Critical Pullback Phase Below This Level

[Bitcoin](https://www.newsbtc.com/bitcoin-news/bitcoin-bull-run-yet-warns-cryptoquant-founder/) is showing increasing signs of weakness as bearish pressure continues building below a critical technical level. With key support zones now under threat and reversal patterns beginning to take shape, BTC could be entering a decisive pullback phase that may determine the market’s next major direction. 

## Buyers Continue Losing Momentum As Decline Deepens

Crypto analyst Kamile Uray [stated](https://x.com/remdocan/status/2058072409089958244?s=20) that Bitcoin buyers continue to appear weak as the market faces another wave of downside pressure. The analyst explained that if BTC breaks below the key [bottom](https://www.newsbtc.com/bitcoin-news/bitcoin-miners-warn-no-bottom-yet-cryptoquant-says-what-on-chain-metrics-reveal/) at $74,929, it could confirm the completion of the final shoulder in a developing OBO structure while remaining under the previous low near $76,044.

Unless Bitcoin can achieve a decisive 4-hour candle close above $78,213, the bearish trend is likely to continue. A sustained breakdown below $74,929 could open the door for a deeper decline toward the $71,000–$68,000 region, which has been identified as a major [Fibonacci](https://www.newsbtc.com/news/bitcoin/bitcoin-below-resistance/) support zone.

![Bitcoin](https://www.newsbtc.com/wp-content/uploads/2026/05/Bitcoin-chart-from-Kamile-Uray-1.png?w=512&resize=512%2C336)
Kamile Uray further explained that if stronger buying [momentum ](https://www.newsbtc.com/news/bitcoin/bitcoin-momentum-signal-preceded-last-october-crash/)eventually emerges from those lower levels, Bitcoin could attempt another recovery rally. During any upside move, the market would need to overcome resistance around $98,000, followed by the larger resistance region between $107,000 and $109,000.

However, if Bitcoin struggles to maintain strength above the recent peak near $126,199, the risk of another major corrective phase would remain active. In the case of a much deeper decline, Kamile Uray emphasized that the $60,000 level stands out as a critical long-term support area that could play a major role in future market direction.

## Bitcoin Bullish Reversal Structure Begins Turning Bearish

Another crypto analyst Merry__PT has [noted](https://x.com/merry__PT/status/2058044472341271030?s=20) that Bitcoin’s recent price action is undergoing a significant structural shift. While the market initially formed a recognizable W bottom, a classic signal of a bullish reversal, this structure is now evolving into a Head and Shoulders top, which is historically viewed as a symbol of a bearish reversal.

The most critical technical element to monitor moving forward is the blue horizontal base neckline. This support zone is acting as the foundation for both the current [structure](https://www.newsbtc.com/bitcoin-news/bitcoins-2026-market-structure-reveals-a-problem-hidden-beneath-etf-growth/) and the potential for a larger trend shift. Once this neckline is clearly defined and widely acknowledged by [market ](https://www.newsbtc.com/analysis/btc/bitcoin-price-consolidates-78k/)participants, the Head and Shoulders formation will gain significant validity. 

If the price confirms a breach below this level, the pattern is likely to transition from a mere technical observation into a genuine catalyst for a sustained pullback. Beyond this structural pivot, the upcoming monthly candle close is key, acting as a pivotal axis for gauging future sentiment and market direction.

![Bitcoin](https://www.tradingview.com/x/wDh2LatI/)