Written by Nancy Lubale⁠, Staff Writer. Reviewed by Allen Scott⁠, Staff Editor.

Written by Nancy Lubale⁠, Staff Writer.

Reviewed by Allen Scott⁠, Staff Editor.

Bitcoin’s ‘momentum is fading’: Traders have these support levels in mind

MarketsPublishedMay 20, 2026

Bitcoin momentum is fading following drop to $76,000 as analysts warn a loss of key support at $74,000-$76,000 could trigger a deeper BTC price correction.

Market analysts say Bitcoin (BTC) is showing “momentum exhaustion” after its 8% drop from multi-month highs above $82,000, with bulls expected to defend key crucial support levels. 

Key takeaways:

• Bitcoin momentum weakens after rejection above the $82,000 level.
• Analysts warn BTC could fall to $65,000 if support at $74,000-$76,000 fails.

Bitcoin’s price momentum is “weakening”

Private wealth manager Swissblock stated that Bitcoin’s momentum is fading following failure to “sustain expansion” above $82,000. 

Swissblock stated that Bitcoin’s positive momentum has been losing “force with every bounce,” contributing to the latest drop to $76,000. 

Related: Bitcoin price stays under $77K as US bond yields near 20-year highs

Bitcoin is now trading at $77,200, with the true market mean and the short-term holder cost basis around $78,000 now acting as immediate resistance.

“Bitcoin is losing its capacity to regenerate strong positive momentum internally,” the wealth manager stated, adding:

“Momentum exhaustion is not the breakdown itself. It is the process that usually comes before it.”

Bitcoin performance impulse. Source: Swissblock

Echoing this observation, analyst Axel Adler Jr pointed out that Bitcoin’s slow impulse performance indicator has “turned negative for the first time since April,” adding:

“Momentum is fading exactly as macro pressure is rising. Without Slow back above zero, every rally is unconfirmed.”

Bitcoin impulse performance. Source: CryptoQuant

Bitcoin’s price momentum indicator has also decreased significantly, falling by 29% over the last week to 47.1 from 66.7, indicating a “shift from strong upward to weakening momentum,” Glassnode stated in its latest Market Pulse report, adding:

“Bitcoin’s market structure is beginning to soften as momentum, spot demand, and speculative positioning weaken across the market.”

Bitcoin price momentum. Source: Glassnode

Key Bitcoin support levels to watch

As Cointelegraph reported, Bitcoin’s upside hinges on bulls keeping the price above the $74,000-$75,000 zone, as it has repeatedly served as key support over the last two years. 

This is where the key moving averages are found, including the 50-day exponential moving average (EMA), the 100-day 100-day EMA and the 50-day simple moving average (SMA), as shown in the chart below.

This reinforces the importance of this demand zone and the fact that BTC/USD has not yet dipped below, “may be the most bullish thing” for Bitcoin, trading resource Material Indicators stated in a recent X post.

BTC/USD daily chart. Source: Cointelegraph/TradingView

The second area of interest lies between $72,000 (100-day SMA) and the psychological level at $70,000. 

If this level is lost, BTC price could drop to $65,000 or later revisit the macro low below $60,000, reached on Feb. 6.

Analyst Daan Crypto Trades Bitcoin stated that if the support at $75,000-$76,000 is lost, the BTC/USD pair would retest the $72,000 “level pretty quickly.”

BTC/USD daily chart. Source: X/Daan Crypto Trades

Zooming out, trader CryptoAmsterdam stated it would be “good” if the BTC/USD pair held support at $74,000-$76,000 (the orange area on the three-day chart below) with other areas of defense around $72,000. 

The analyst sets downside targets at $60,000 and $50,000 in case these support levels are breached. 

BTC/USD three-day chart. Source: X/CryptoAmsterdam

As Cointelegraph reported, a key support level for the bulls was the 50-day SMA at $75,600, which, if lost, could see the BTC/USDT pair sink to $65,000.

This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.

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