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Is a Bitcoin price rally to $150K possible by year's end?
A bearish RSI divergence, similar to 2021, suggests Bitcoin could face a 50%+ correction toward $64,000, challenging the $150K year-end target.
Bitcoin is painting what appears to be an inverse cup-and-handle pattern, with its neckline near $100,800 acting as current support. As of June 7, the price has entered the handle-formation stage, eyeing a breakdown below the neckline.
Based on the inverse cup-and-handle pattern setup, a breakdown below $100,800 will increase Bitcoin’s likelihood of dropping toward $91,000.
The $91,000 downside target aligns with BTC’s 200-day exponential moving average (200-day EMA; the blue wave).
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