Bitcoin has again raised the possibility of entering a short-term downtrend after failing to turn the $82,000 zone into support.

On May 15, Cointelegraph reported that market caution is growing that bitcoin could be pushed back from the top of its trading range and move to retest the lower bound.

Traders’ views on bitcoin’s recent price action are clearly divided. Still, more are saying the market should leave room for lower levels in the short term. JDK Analysis pointed on X to the price still moving inside the range and cycling just above a key range top.

The range has persisted through most of May, with a CME bitcoin futures gap and the 200-day trendline converging at the top. With the two resistance factors still unresolved, expectations are gaining among market participants that the range bottom could be checked again.

CGT Trader said it is important how the price reacts at a support area that previously produced a rebound, but judged that a break below it is more likely this time. BitBull went further, noting that bitcoin has failed to regain $82,000 and that the risk is growing of prolonged downside pressure. It warned that the failure to break short-term resistance could be the starting point for the next down leg rather than mere sideways trading.

Some still lean to the upside. Cryptic Trades said bitcoin could follow the flow of the U.S. stock market, which is setting fresh all-time highs, and predicted a "major catch-up" could emerge in the coming weeks.

Optimism based on technical indicators was also offered. Kai Soren said a look at Bollinger Bands showed strong buying immediately defended support. He predicted that as long as support holds, momentum for further gains still looks strong. John Bollinger has previously responded to related signals.

The market is now focused on whether bitcoin can recover $82,000 and defend the lower bound of the range. If it fails to break the top resistance, the chance of a lower-bound retest could rise. If support holds, a rebound scenario that follows U.S. stock strength could regain momentum. Short-term direction will likely be decided by whether the price breaks out of the range and by how the futures market reacts in the process, the outlet reported.