May was the bear’s month, the largest crypto asset by market cap is down almost 32% this month. However, BITCOIN bounced back up after taking support at key levels indicating that bulls are buying the dip. BTC is up by 4.5% over the past 24 hours. Its dominance is currently at 45.86 (compared to 44.4% last week) and the market capitalization is $577bn.
At the time of writing, BTC was trading at $30,375.
For the first time in history, BITCOIN has traded in the red for the past nine weeks in a row, The asset has taken multiple support around $28,800 in the past and this time too it is doing exactly the same and is not sustaining below the support. Technically, on a daily time frame, after making a ‘Long Legged Doji’ candle at the low, BTC is trading sideways in a range between $28,500 to $31,500. Breakouts on either side of the range will further decide the trend for the asset.
Support 2Support 1AssetResistance 1Resistance 2$25,000$28,800BTC$31,500$37,000
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