TechFlow news, May 22 — According to Cointelegraph, Bitcoin price surged past $110,000, hitting a new all-time high. However, several trading analysts have issued warnings that the current bull market may be nearing its end, anticipating a price correction. Technical analysis shows Bitcoin's price has significantly deviated from its typical exponential moving average (EMA), and the relative strength index (RSI) is exhibiting bearish divergence, suggesting that upward momentum may have been exhausted.
Some traders are comparing the current trend to that of 2021 and predict this year’s fourth quarter will mark the "cycle peak," after which a bear market could drive Bitcoin’s price down to the $69,000 level.
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