Even after the positive CPI print of yesterday, Bitcoin is still looking depressed. With the market waiting for something to happen, Bitcoin might just surprise.
There is still a lot of fear in the crypto markets. FUD is all around in the mainstream media. Regulations are closing in and the US is still seemingly hell bent on closing crypto down.
Bitcoin rally still on?
However, bitcoin is still holding the current support at around $27,000, having dipped under $26,800 already this week. The downwards wicks are still getting bought up signifying that there is still a lot of interest in this bitcoin rally.
Should the price do the unexpected and rise, breaking through the downward trend line from April 10, there are a lot of short positions sat at around $30,000 to $31,000 and these could be squeezed out, leading to a rapid move to the higher $36k + region.
Protect your purchasing power
As mentioned already, there is a lot of FUD around crypto and this does include Bitcoin to some extent
We współpracy z: https://cryptodaily.co.uk/2023/05/the-lull-before-the-bitcoin-storm
