Past Performance of Bitcoin
Bitcoin bulls are up roughly three percent at spot rates and trending higher above the bear flag . Following gains on May 30 above the bear flag , BTC prices may likely trend above $32k and break above the recent consolidation. The failure of bears to press lower and force prices below the $28.7k mark is an endorsement of strength, a net positive for buyers.
#Bitcoin Technical Analysis
BTCUSDT prices are printing higher highs, adding three percent in the last trading day. Notably, BTC is solid above the bear flag , pointing to strength. A close above $32k would offer better entries for optimistic bulls. That foundation would be the base for higher highs towards $37.3k or better. Still, considering the spike in trading volumes relative to the recent bars, aggressive traders may find opportunities to buy the dips. The next immediate target would be $32k and later $34k if bulls double down.
What to Expect from #BTC?
After days of sideways movement, BTC prices could be breaking up. The expansion on May 30 has relatively high trading volumes pointing to trader participation. As it is, a close above $32k may see BTC bulls flow back, driving the next leg up.
Resistance level to watch out for: $32k
Support level to watch out for: $28.7k
Disclaimer: Opinions expressed are not investment advice. Do your research.
