Boy has the price action on bitcoin of late been frustrating. Every time it looks like it wants to make run higher it doesn't and every time it looks like it is breaking down it rebounds.
This leads to a whole lot of choppy nothing.
Look at what I mean..
The Month of May Go Away
May was nothing but a chopfest and we will see what June brings us. Third day in and so far the chop continues.
We do have that descending triangle that price remains in and is creeping closer to the apex of.
If price continues to play out this way, we may finally see a move one way or the other in about a week or so.
Or nothing can happen, that is always an option as well.
The good news in all of this is the support at the 27k area (into mid 26s) continues to hold.
Some bullish movement will need to occur at some point though as support levels don't last forever.
Come on Summer of Money!
Posted Using LeoFinance Alpha
Do something BTC We need $100,000 ASAP!
it wasn't so bad month after all. people just seems to forget btc, plenty other cryptos doubled its value in the last half year. nice to see the correction, i personally hope it will last for few more months.
actually, i am waiting for something similar in the summer, but at least for June. main reason is USD Index, it went up significantly in May, and looks like started to repeat the same moves, what it did in May. (also nasdaq will hit 15k soon, then it must correct, too. thats hardly possible USD go up, nasdaq go down or correct and crypto has another run)
i follow traders, investors who are in btc from beginning. All are bullish in mid, long term. they talk about it most of the time. Looks like nobody wants to hear that small part, what almost all mentioned. the potential come back to 20k levels or even 10k (even if it is less likely).
people always underestimate the likelihood of negative events.
it's still good time to buy for long term. in that case, it is not important it goes up or down in the next few months.
Nice chart. Looks like a lot of people went in quickly and are slowly having a buyers remorse. !lol
If your trading, being choppy may be ok. Doesn't matter the price you buy or sell you should get filled unless your out of range of trading. !fun stuff
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(4/10)
May was a total boring month in crypto
its juat a matter of time one will surely give up either the #bulls or the #bears
#airhawk