$BTC
Technical View BTC currently ranging inside an expanding wedge type of a pattern where we can see $BTC has respected many times.
Also there is a trend line where $BTC has respected 6 times as a support and 2 times as a resistance,This trend line support is acting as a major key level on $BTC.
In case BTC break below the key trend line support we can expect a drop to the major Horizontal support which lies on 25K and also it can be a quick wick to 24K2 also.
$BTC local supports 27K , 26K4.
Also $BTC Weekly candle closing above the range 29K-30K3 will be outstanding.
Bitcoin fell about 4.2% to start the week and new month. Did the First Republic Bank saga make an impact on the Bitcoin dip?
Cryptocurrencies took a dip on Monday to start the week and new month as investors bet the takeover of First Republic Bank could put an end to the financial crisis, which has been the biggest driver of this year’s bitcoin rally.
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Bitcoin fell about 4.2% to 28,137.76 to start the week and new month. Last week, the price of bitcoin rallied in the final week of April as troubles at the bank unfolded. Trading of the cryptocurrency has been choppy, however, as investors straddle the effects of the banking crisis on crypto with high inflation, Federal Reserve policy, a potential recession and an increasingly bearish narrative building around the U.S. dollar. See more..
Current Market Price ~ $27981
Volume 24h ~ $17,436,842,452
1 Day Range ~ $27700 - 28147
Market Cap ~ $542.46B
However, experts still predict that Bitcoin could shine later this year.
FTX’s collapse was the catalyst for a new bullish cycle in cryptocurrency markets.
Bitcoin could jump nearly 70% if the US defaults on its debt, Standard Chartered analyst says
Bitcoin Extends Dominance Over Alts as BTC Stable Above $29K: Market Watch
@Coach
