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Technical Analysis: BTCUSD 01.06.2023
Bitcoin prices are lower when writing, dropping from yesterday's lows as gains of May 28 are strongly reversed. Even though the upside remains, at least from a top-down preview, the loss below $27k should be a concern for holders. For now, conservative traders should track how today's close will be. If it closes below $27k, the odds of further dips toward $25.8k will be increased.
Technical Analysis: BTCUSD 31.05.2023
Bitcoin prices are down but firm when writing. Although there has been no confirmation of recent gains, bulls have been holding on, keeping prices within the May 28 range. Moreover, the immediate trend is bullish, with the wide engulfing bullish bar of the weekend shaping the current trend. As it is, BTC has resistance at around $28.3k with support at $27k.
Technical Analysis: BTCUSD 30.05.2023
Bitcoin remains within a bullish formation, visible from the daily chart. Even though the upside is capped and there has been no confirmation of the May 28 bull bar, the path of least resistance is upwards, at least reading from the current candlestick arrangement. Immediate support is between $27k and $27.5k, and the middle BB on the lower end. Any surge above $28.3k and yesterday's highs may ignite further gains.
Technical Analysis: BTCUSD 29.05.2023
Bitcoin prices are up eight percent from recent lows when riding, breaking above $27k and $27.5k, two of last week's resistance lines. At this pace, there are hints that BTC bulls are building momentum. However, whether this will continue depends on how prices close. A sharp close above $27.5k, confirming yesterday's gains, would likely lift BTC to $28.3k and better in subsequent sessions.
Technical Analysis: BTCUSD 26.05.2023
Bitcoin is down but steady, looking at price action in the daily chart. There are attempts of higher highs in the lower time frames, but the downtrend remains. As it is, primary resistance levels remain at May 24 highs at around $27k and $27.5k.
Technical Analysis: BTCUSD 25.05.2023
Bitcoin is in red, dropping roughly 3% in the last 24 hours. Following an extended sideways movement, the coin is now bearish and edging lower in line with recent losses from early May. Based on yesterday's gains, traders should look for entries to unload the coin on every attempt higher. At this pace, the immediate target can be $25.8k and later $22.5k.
Technical Analysis: BTCUSD 24.05.2023
Bitcoin prices ended up higher yesterday but closed with a long upper wick suggesting a sell-off in lower timeframes. This was confirmed with the spill off today, forcing prices lower. Moreover, while there were notable gains, associated trading volumes were lower than expected. Therefore, although bulls are optimistic and expecting more, traders should adopt a wait-and-see approach. Specifically, gains above $28.3k may pump prices. However, BTC remains within a trading range with clear resistance and support levels, trending lower at spot rates.
Technical Analysis: BTCUSD 23.05.2023
Apart from today’s gains, there are no major changes on Bitcoin, and prices remain within a trade range in a possible distribution or accumulation dictated by the breakout direction. Presently, BTC is limited to the upside at $28.3k while prices are bouncing above the $25.8k support level.
Technical Analysis: BTCUSD 22.05.2023
The horizontal consolidation of BTC prices below $28.3k continues. As it is, the sideways movement is within a leg down. Because of this, sellers are in control in the immediate term. This preview is, nonetheless, forming within a broader bull formation defined by the solid gains posted from mid-March 2023. Technically, watchers should watch how prices react at $25.8k, the immediate support trigger line.
Technical Analysis: BTCUSD 19.05.2023
Bitcoin prices are wavy, looking at how prices have been moving in the past two trading days. After the coin posted encouraging gains on May 17, yesterday's losses forced the coin lower, wiping gains and swinging price action back to bearish territory. Overall, the downtrend set in motion from late April 2023 remains.
Technical Analysis: BTCUSD 18.05.2023
Bitcoin is higher today, shaking off the weakness of the past few days, but is capped below immediate resistance lines at $28.3k and $30k. Even though the downtrend remains and prices are within a range defined by sellers early this month, selling momentum is waning. For now, how prices react at $28.3k and $25.8k on the lower end will shape the immediate-term trend.
Technical Analysis: BTCUSD 17.05.2023
Bitcoin prices remain flaccid, moving within a tight range, in a general bearish formation. After temporarily floating above $27k, prices dropped below the critical resistance level. As it is, bears remain in control. BTC is in a breakout formation with liquidation levels at $27k and $28.3k. As it is, sellers can look for entries. However, there could be more once there is a break below last week's lows at $25.8k.
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This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
CryptoAltum does not accept any clients under the age of 18.