Bitcoin (BTC) Price Analysis for May 25

Date:

The market is neither bullish nor bearish today as some coins have left the correction phase, while the rates of others are going down.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has risen by 1% over the last 24 hours.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

On the hourly chart, Bitcoin (BTC) is trying to come back to the bullish zone. If the buying trading volume rises and the rate can return to the $30,000 mark, there are chances to see the breakout of the resistance.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

On the bigger time frame, nothing crucial has changed in terms of possible sharp moves. At the moment, one needs to pay close attention to $31,000 and the way the price approaches it. If bulls can get to this mark, the growth may continue to $32,950 shortly.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

From the mid-term point of view, Bitcoin (BTC) is trying tom return to $30,000. In addition, the selling trading volume has fallen, which means that bears are losing their initiative. If the rate can return to the mentioned mark by the end of the month, June might be bullish for the leading cryptocurrency.

Bitcoin is trading at $29,732 at press time.

Source

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Popular

More like this
Related

OPD investigating armed robbery at Ground Floor Guitars on Friday – Omaha, Nebraska

Omaha, Nebraska 2022-07-02 16:34:42 – Omaha, Nebraska (KMTV) —Omaha...

Shiba Inu, Dogecoin Accepted for Payment by Food Delivery Company Uber Eats

Shiba Inu and Dogecoin holders can now pay for...

The Feds in Khaki Pants Group Also Called the Patriot Front Are Marching in Boston Today

The very threatening Patriot Front group, that likes to...