May was a bear’s month. The largest crypto asset market cap fell almost 32% in May. BITCOIN rebounded after gaining support at key levels, indicating that bulls are purchasing the dip. Over the last 24 hours, BTC has risen by 4.5%. Its current dominance is at 45.86 (compared with 44.4% last Wednesday) and the market capitalization stands at $577bn.
BTC traded at $30,375 as of the writing of this article.
BITCOIN traded in the red for nine consecutive weeks, the first time this has happened in history. The asset has been trading at multiple support levels of $28,800 over the past, and it is now doing the exact same thing and is not sustaining below that level. Technically, BTC trades sideways between $28,500 and $31,500 on a daily basis, having made a Long Legged Doji’ candle at the low. The trend will be further determined by breakouts on either end of the range. Key Levels:
Support 2Support 1AssetResistance 1Resistance 2$25,000$28,800BTC$31,500$37,000
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