BITCOIN PULLBACK ALERT🚨 (Bitcoin Price Prediction & News 2026)

Added: 2026-05-17

[00:00:03]Good morning everybody. Welcome back to Selenix Crypto. Hope you're all doing great. Hope you had a good weekend and welcome to a new fresh Monday, a new week, new opportunities and we're going to start off with Bitcoin. Bitcoin is going to be leading again this this week.

[00:00:16]Um there's going to be altcoins that obviously outperform Bitcoin and altcoins are very much still, you know, apart from Bitcoin very interesting.

[00:00:24]>> [snorts] >> Um but I think Bitcoin at the moment is also very interesting. We started off with some nice momentum. Volatility I should say. It's not Talk about what that means. We'll talk about what that implies.

[00:00:35]Um and and then we'll talk about what's most likely from here by looking at the fundamentals.

[00:00:42]Over the course of the weekend, we did have quite a lot of headlines that has created somewhat of a bearish shift fundamentally in the markets.

[00:00:50]Um but not significant enough yet to to to say that those headlines, you know, then we're mainly talking about the Middle East, of course, are going to change the direction of the markets.

[00:00:58]Now, what I do think is very interesting and also important to understand the direction is the volatility that we have seen so far.

[00:01:07]>> [snorts] >> Um if you zoom in, you can see that we had a lot of volatility. I actually shorted Bitcoin um yesterday evening before we we we we got this this massive massive spike right here.

[00:01:18]>> [snorts] >> Um but what happened is that we we had a bit of a move into the upside, which we expected over the course of the weekend.

[00:01:24]And I told you as well, the key level that we are going to need to break above is the previous week value area high, right? So, that's 81,500.

[00:01:35]That level into uh 81,200 is leading. We need to like if we if we want to see Bitcoin rally again, we need to break above that.

[00:01:43]And you can see we had a strong move, high volume into the upside, right? But then we immediately lost it. And that is bad news, right? So, 30-minute time frame right here, it is very bad news because ultimately we we broke above the previous week value area high, and then we lost it, right? I mean, we we just ultimately tested the the highest fair value gap that we had right here from Wednesday last week.

[00:02:04]Tested that and lost all support levels.

[00:02:07]Like we like we we we found support nowhere.

[00:02:10]Lost everything, dropped down lower, and right now the previous week VWAP plus [snorts] 7-day running VWAP, which was also support yesterday evening, is holding. I mean, that's a strong support level, a 7-day running VWAP and the previous week VWAP.

[00:02:23]>> [snorts] >> Um but ultimately, this price action is bearish, right? We just tested the highs, right? We tested the sellers' conviction here.

[00:02:31]Um and the test was successful. AKA, the sellers' pressure is still very high um [snorts] and it's very strong given the price action afterwards, the subsequent price action.

[00:02:40]So, then the question becomes, if you look at the 4-hour time frame for Bitcoin, okay, if we want to rally into 84,000 here short-term, you know, medium-term, long-term, I do expect it, right? In in this quarter. Let's keep it at that, right? So, so between May and and June, I do expect it.

[00:02:56]But [snorts] does it most likely to happen from here after the price action that we have seen and given the fundamentals? For that, we have to talk about the fundamentals because we haven't yet, right? And the fundamentals at the moment, they're not bad, right?

[00:03:06]So, I mean, if you look at the S&P 500, for example, it's at the same levels as Friday.

[00:03:12]There's nothing bad about it.

[00:03:13]Um [snorts] volatility index is a little bit higher, right? Because of the things that happened over the course of the weekend. Oil prices also opened a bit higher. So, there's a bit of a bearish fundamental shift, but ultimately, when we're talking about cryptos, specifically, we have a Coinbase Bitcoin discount, right? That is bearish. And if you look at the funding rates, not for Lido DAO right here, but if you look at the funding rates for Bitcoin, you can also [snorts] see that those have are are the most positive we have seen in a very, very long period of time, which means that it's overbought with futures for Bitcoin. Now, based on that, right?

[00:03:45]If you if you if you add everything up, um if we get a ceasefire in the Middle East, we'll still break out and we can rally, right? And ultimately, the structure is still bullish. But, I would say short-term it's more likely that's that's, you know, like I said, adding everything up that it's that we're going to get a pullback, right? And then [snorts] what we're talking about is well, we have a very strong support level at 80,600. So, that's not going to be easy to break through. Then afterwards, what we're going to be talking about these swing lows right here at 79,700.

[00:04:11]And then after after that, we'll talk about the 79,000, which is basically testing this previous range high.

[00:04:18]So, I don't expect an imminent crash. Um I do expect a pullback. I think that's most likely if you look at the technical price action over the course of the last, well, basically, the market open.

[00:04:27]And the fundamentals. So, that is what I think you need to know for now. Thank you for watching, everybody. Take care and bye.