The bitcoin price has been in the sideway consolidation in the last ten days, between 28,500-31,500 dollars. On May 20, the price tested the lower support again and launched a new bullish consolidation. Over the weekend, the price gradually rose, resulting in a break above the $ 30,000 level. We should climb to the $ 31,500 level again in the next period. If the price stays around that level, maybe we could see a break above and a rise to higher levels on the chart. the first next bullish level is $ 32,000, then $ 32,650. We need a new negative consolidation and a pullback below the $ 30,000 level for the bearish option. After that, we can expect re-testing of previous support in the zone of $ 28,500-29,000. The price break below would probably bring us down to testing previous May levels.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.