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BTCUSD Technical Analysis

On the daily chart below, we can see that Bitcoin seems to be bottoming near the 25231 support level as we got a little rally from the double top at 26000. The recent hawkish repricing in rates expectations weighed on BTCUSD which is mainly driven by liquidity and tighter conditions make it harder for it to rally. The strong resistance at 30000 may have also seen some profit taking. We can see that the entire rally after the Silicon Valley Bank collapse was diverging with the MACD. This is gener... Read More

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Btcusd

Technical

Analysis

Forex

Posted: May 31 2023, 08:59

Author Name: forexlive

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