BTC outlook for 16 May 2022.
Bitcoin / TetherUS BINANCE:BTCUSDT
BTC starting the week off with a strong bearish push but no top wick which is a good indication that a possible rejection from support may occur during this week to finally retest the 31,5k level. If BTC manages to close above the strong resistance zone establish around 31,3k I do believe it can continue pushing upwards with multiple resistances along the way (R1, R2 and R3). On the other hand, if BTC manages to close below the strong support zone of 29k I believe it will continue dropping back towards 26k.
