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Cryptoknowmics 2022-05-31 12:23:37

BTC Technical Analysis: Consolidation Is On The Verge Of Failure

Positive notes at the beginning of the play are always nice to hear. The main thing is that the play ended positively. The new trading week in the BTC market began with a counter-attack by buyers and breaking the local mark of $31,400. During the day, buyers managed to absorb all the efforts of sellers for the previous two weeks. Given the dynamics of growth, the BTC price without any problems should rise to $34,500. It is in this note that it will become clear whether the global correction of the BTC price from November 2021 has ended or not. https://www.tradingview.com/x/Ao9JKgeo/ If you look at the monthly timeframe, the situation is not very clear yet. On the one hand, the May candle was able to break the global range of $29,000. However, the month may close with a false breakdown. And the higher the price of BTC closes, the better the chances will be for a strong growth wave in June. In the event of a breakthrough and consolidation above $34,500, we will expect the BTC price to continue growing to $39,000. Given the depression of the cryptocurrency market, we are not yet planning a more aggressive price movement. It is possible to buy Bitcoin with confidence after the end of the local growth wave, about $ 39,000 and the retest of $31,500. If buyers manage to keep this mark – the global consolidation of Bitcoin with the first target of $48,000 and the final one of $60,000 will be continued. BTC Technical Analysis On The Da...

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BTC Technical Analysis: Consolidation Is On The Verge Of Failure

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