Bitcoin an orderly retreat from trend channel resistance
Bitcoin is trimming its monthly gains into its month end, trading at $63,237 (-3.65%), hastened by the rise in US yields and the USD that followed Fed Chair Powell's less dovish commentary.
We would consider moving back to a bullish bias in #BTC on a dip back towards support at $52,000/$50,000. Conversely, if Bitcoin saw a sustained break above trend channel resistance at $68,500ish, coming from the March $73,794 high, we would also likely move to a bullish bias in anticipation of a rally towards $80,000.
We would consider moving back to a bullish bias in #BTC on a dip back towards support at $52,000/$50,000. Conversely, if Bitcoin saw a sustained break above trend channel resistance at $68,500ish, coming from the March $73,794 high, we would also likely move to a bullish bias in anticipation of a rally towards $80,000.
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