May was the bear’s month thus far. The largest crypto asset market cap has fallen almost 32%. BITCOIN recovered above $30k, which indicates that bulls are purchasing the dip. Over the last 24 hours, BTC has risen by 2.3%. It currently holds 44.4% of the market and has a market capitalization of $577bn.
BTC traded at $30,315.
BITCOIN saw a sharp drop last week, with prices falling to $25,338. Technically, BTC has formed a “Long Legged Doji” candle on a daily basis. This indicates that the trend is uncertain and could be reversed. BTC is trading at $30k and has closed above $28,800 on the daily key support. If BTC holds the support level and trades above $31,500, then we can expect a rally to the $35k-$37k levels. A break below the support level will result in further decline. Key Levels:
Support 2Support 1AssetResistance 1Resistance 2$25,000$28,800BTC$31,500$37,000
Disclaimer: This report should not be regarded as investment advice. It does not consider the financial situation, investment goals or needs of investors. When deciding whether an investment is right for them, all investors should take into account these factors and consult with a professional advisor. This report was prepared by the Company using information that it has access to, as well as information from public sources that have not been independently verified. The Company makes no representations or warranties, either express or implied, regarding the accuracy, completeness, reliability, fairness, correctness, correctness, correctness, completeness, or reliability of the information, opinions, or conclusions contained herein. This report is preliminary. The Company does not assume any obligation to revise or update the reports in the event of changes or unforeseen events. Trading and Investments in cryptocurre ncies viz. Bitcoin Cash, Ethereum, and Ethereum are highly speculative investments that can be subject to market risk. The author’s analysis is intended to be informative only and should not serve as investment advice.
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