Bitcoin 2H Timeframe | Next Target $31,300 / $31,400

29 May 2022

The low was set for BTCUSD on 12-May at $25,365.

A higher low came in on 26-May but prices recovered right before hitting the 0.618 Fib. retracement level;
The short-term chart technicals are now favoring the bulls.

We can see EMA50/EMA100 being conquered on the 2H timeframe...
Nay, this level we consider conquered only if BTCUSD closes above $29,338 before the days close.

We see the $31,300 / $31,400 price range as the next target maybe within a day or two...

It will take longer before $34/35K but can actually get even better...
Let's not get ahead of ourselves.

After 9 weeks of RED/BLOOD, it is hard to adapt to the fact that a bullish relief rally is already on.

From ~$25,500 to ~$29,500 we have already over 15% growth.

Hasta luego!

31 May 2022

İşlem kapandı: hedefe ulaştı