As you can see from the last Bitcoin analysis the 30000 area broke and the price went down with selling pressure and bounced from 25300$. with the price action analysis, Bitcoin is forming a symmetric triangle on lower time frames and we will see a break of this structure soon. The resistance is the $30,500-$31,000 area and we will see a move towards $33,000-$34,000 if BTC breaks above the $31,000 level. A break below $29,000 is bearish and we might see again $27,000-$27,500 levels. Use tight stop loss in all trades.
This analysis will be updated.
5/14/2022