This May 2020 ended with the second consecutive positive candle, as it hadn't exactly happened for a year, but the good news is that for the first time in 11 months, Bitcoin prices close above the 9,450 point area.

The last time the monthly close saw prices above this threshold, at $ 10,800, was last June 2019.

Subsequently, a weak trend began that did not see closings above 9,450 points even during the months of January and February 2020, although at the beginning of the year Bitcoin saw the prices regain the $ 10,500 before suffering the drop in March.

It is a signal that comforts and sees the positive trend on a weekly basis. It must be said that in 11 weeks from the mid-March lunge, only two ended in red, both recorded in May.

This therefore indicates that, despite the moments of uncertainty of the last month, strength prevails and purchases for Bitcoin prevail.

Moreover, the second quarter that began with the month of April, recorded a gain that currently sweeps the weakness recorded in the first quarter of 2020, the third consecutive in red, an event that was not recorded from the 2014-2015 period. Also in that case it was the third and fourth period of the year and the first period of the following year.

The positive closing of April and May see about 50% gain for Bitcoin.

The weekend was brisk with interesting movements for altcoins, starting with Ethereum.

After more than three months, ETH revises its share of $ 247, the highest level since the beginning of March. Moreover, both Ethereum and Bitcoin see prices within the bullish channel that started from the March lows.

The weekly balance of the top 30 capitalized cryptocurrencies is also above par for all. The best hikes in the top 20 are recorded for Neo (NEO), + 19%. Cardano (ADA) is doing better, flying by 50% and Ethereum rising by 17% on a weekly basis.

Bitcoin Chart By Tradingview

Bitcoin (BTC)

After regaining $ 9,500, Bitcoin continues to swing around this level.

In the coming days it will have to find confirmations with pressures over 9,750-9,800 dollars, the peaks of mid-May 2020, marked a few hours after the third halving, after the sinking in the 8,100 area which then saw a jump that touched the 10,000 dollars in the May 14 2020.

These are the levels that Bitcoin will have to overcome to aim to update the 2020 records recorded in mid-February in the 10,450.-10,500 dollar area.

For Bitcoin technically a failure to break the 9,800 dollars in the next few days could draw a dangerous bearish head and shoulders in the medium term, which would see the first support in the area for 8,500 dollars.

This fear would be wiped out in excess of $ 10,000 in the coming days.

Ethereum Chart By Tradingview

Ethereum (ETH)

The rise of the last 5 days sees Ethereum's performance gain 25% from the highs recorded over the weekend, with prices reaching 247 dollars, the highest point since the beginning of March, puts all the downside and fear behind in the first half of March, due to the explosion of the Covid crisis which caused all financial markets to collapse globally.

This rise puts all the negative phase of March 2020 behind it. The rise confirms the positive trend of ETH started from the lows of mid-March.

Now it is important not to drop below $ 210-205 to consolidate the bullish trend in the coming weeks.

A breakdown of the highs of Saturday 24 May of $ 247 would open space to return in the coming weeks to test the February highs in the $ 285 area.