There is only one day left to close the monthly candle of May.
My personal view is that there are three important levels.
1) 34K If we close below this level, a bear market is confirmed for BTC, with a continuation of the descent.
A higher close will give BTC a chance for a bullish continuation.
2) 42K A close above 42000 will indicate that we have a lot of chance of going up without returning below 30,000.
3) 52K While it is very unlikely to close above this level, we need to remember this in the future.
Graphic: investing.com
Let's draw the first two levels on the daily chart:
Graphic: tradingview.com
At the time of writing, it seems unlikely even exceeding 42K, but a close above 37375 (yesterday's max) would project us into the 42K zone (0.382 - 0.5 Fibonacci).
Follow me on Telegram for more details during the day: https://t.me/joinchat/_J8vQO5jNPBlYTg0
Register an account on Binance to get a 5% discount on commissions: https://www.binance.com/it/register?ref=NG0GOL6H
Log in to Publish0x:
https://www.publish0x.com/?a=oQeZ4DR6bp
This article does not contain investment advice. Every investment and trading move carries a risk, readers should conduct their own research when making a decision.
THE OPINIONS EXPRESSED BY THE AUTHOR ARE PERSONAL ONLY AND FOR INFORMATION PURPOSES AND DO NOT CONSTITUTE FINANCIAL, INVESTMENT OR OTHERWISE ADVICE.
Thanks for reading I look forward to your comments.
