Signals and Technical Analysis - May 30, 2022 - Bitcoin BTC

the critical degree for a bullish comeback is the $31,000 mark, which remains out of reach for bulls at the moment. The cost dynamics recorded once BTC touches the $30,000 mark (100 EMA) again should set the ways for a totally retest of $31,000.

The longest losing streak in its history. Although there are several hours left before this candle closes, it is quite unlikely that Bitcoin will undo this streak. At press time, BTC was trading at $30,100, up 0.31% on the day, but down more than 3% over the past 7 days. The flagship cryptocurrency has been trading with a sideways boss for around 2 weeks. Bitcoin is also trading down more than 58% from its all-time high of $69,000 recorded last November. As a consequence of persistent bearish encouragement, the Bitcoin Greed and Fear Index has oscillated between “fear” and “extreme fear” throughout most of Q2 2022.

Despite all of the above, a prominent Glassnode crypto analyst, Kripto Mevsimi, revealed in a report that 55% of all BTC is in profit. Altcoins have suffered a similar fate as Bitcoin, as most other cryptocurrencies hit multi-month lows amid the ongoing multidimensional bear market.

Key Bitcoin Levels to Watch: May 30 Bitcoin remains in an aggressively choppy boss, as highlighted by the range on the 4-hour chart. The allusion cryptocurrency fell to a low of $28,000 last week, briefly negating the range, before bouncing back towards the $29,500 zone. After another attempt at the $28,000 support, BTC is now on the verge of a return to the top. off the $29,500 mark. BTCUSD – 4 hour chart Source: Trading View. Bitcoin (BTC) remained on the defensive throughout most of last week, hitting a 2-week low of $28,000. With that being said, Bitcoin is set to post its ninth consecutive bearish weekly candlestick. As much, reports present that BTC has decoupled from the stock market after going bullish once Wall Street rallied significantly last week. As so much, my resistance levels remain at $30,000, $30,600, and $31,000, and my key support levels remain at $29,000, $28,700, and $28,000.

---

Note: SignalsBitcoin.com is not a financial advisor. Do your research before investing your funds in any financial asset or featured product or event. We are not responsible for your investment results