Home cryptopedia Bitcoin Technical Analysis Report | 16th-May-2022 

Bitcoin Technical Analysis Report | 16th-May-2022 

by cryptolovers


May has been the bear’s month so far, the largest crypto asset by market cap is down almost 32% this month. However, BITCOIN bounced back up above the psychological level of $30k indicating that bulls are buying the dip. BTC is up by 2.3% over the past 24 hours. Its dominance is currently at 44.4% […]
The post Bitcoin Technical Analysis Report | 16th-May-2022  appeared first on ZebPay | Buy Bitcoin & Crypto.

May has been the bear’s month so far, the largest crypto asset by market cap is down almost 32% this month. However, BITCOIN bounced back up above the psychological level of $30k indicating that bulls are buying the dip. BTC is up by 2.3% over the past 24 hours. Its dominance is currently at 44.4% and the market capitalization is $577bn.
 

At the time of writing, BTC was trading at $30,315.

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Bitcoin Technical Analysis Report | 16th-May-2022  2

BITCOIN witnessed a sharp fall last week and the prices made a low of $25,338. Technically, on a daily time frame, BTC has made a ‘Long Legged Doji’ candle which indicates indecision in trend and a possible trend reversal. The asset has given a daily closing above the key support of $28,800 and is currently trading above $30k. IF BTC holds the support and trades above $31,500 then we can expect a relief rally up to $35k-$37k levels whereas a break or close below the support will lead to further downfall.

Key Levels:

Support 2 Support 1 Asset Resistance 1 Resistance 2
$25,000 $28,800 BTC $31,500 $37,000

Disclaimer: This report is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any investor. All investors should consider such factors in consultation with a professional advisor of their choosing when deciding if an investment is appropriate. The Company has prepared this report based on information available to it, including information derived from public sources that have not been independently verified. No representation or warranty, express or implied, is provided in relation to the fairness, accuracy, correctness, completeness or reliability of the information, opinions rdor conclusions expressed herein. This report is preliminary and subject to change; the Company undertakes no obligation to update or revise the reports to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. Trading & Investments in cryptocurre ncies viz. Bitcoin, Bitcoin Cash, Ethereum etc.are very speculative and are subject to market risks. The analysis by Author is for informational purposes only and should not be treated as investment advice.

The post Bitcoin Technical Analysis Report | 16th-May-2022  appeared first on ZebPay | Buy Bitcoin & Crypto.





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