2026 has been an eventful year for the cryptocurrency market, with much of the volatility tied to developments in the conflict involving the US, Israel and Iran. The year began with a sharp drop in bitcoin to roughly $60,000, followed by an impressive recovery of more than 30% that pushed prices higher by early May.
That notable rally, however, has now met significant resistance, and analyst Ali Martinez has warned that a key technical indicator has triggered a major sell signal.
Sell in May, or Hold Through?
Martinez, who shares market analysis with over 165,000 followers on X, said the Tom DeMark (TD) Sequential indicator turned red on bitcoin’s 3‑day chart — a signal he described as the “first major bearish pivot of the year.” He noted that the same tool accurately timed the recent rebound from the early February lows near $60,000 up toward the $80,000 area, which price approached twice over the past ten days.
According to Martinez, if bitcoin fails to find support and decisively breaks below $67,500 — now the most critical level to watch — it could “trigger a new bearish countdown, potentially extending the correction.”
Earlier, the analyst suggested that if the current structure collapses, bitcoin could find a lower bottom beneath $55,000.
“While the macro trend remains constructive, the TD Sequential is a high‑authority timing tool. For those looking to manage risk, the $67,500 level is the primary floor to watch for trend validation,” he concluded.
Bitcoin ended April on a strong note, recording nearly a 12% gain and marking its best month since the previous April.
Strong Resistance Around $80,000
Another analyst, Ted Pillows, commented on bitcoin’s recent price action, particularly the move above $78,000 on Friday that followed reports Iran had submitted another peace proposal to the US. Although that proposal was rejected hours later, bitcoin remained around the $78,000 mark for roughly 24 hours.
Pillows pointed out that bitcoin has encountered a “strong resistance zone” near $80,000 and that attempts to break through that level have so far been rejected in recent weeks. Historically, May has often been a positive month for bitcoin, but renewed escalation in the conflict could quickly reverse gains.
$BTC is back above the $78,000 level.
Now, Bitcoin has entered a strong resistance zone.
Do you think BTC will break above $80,000 this month?
— Ted (@TedPillows) May 2, 2026