Bitcoin Rise and Break $30K, But Is It Fake? » Crypto Insiders

After breaking up earlier this month, Bitcoin (BTC) Relative calm last week and the price moved sideways. bearish However, feelings still prevailed and although the fear subsided somewhat, it was still very high. At the time of writing, Bitcoin is still on the rise, but given the very low volume Bitcoin Pizza Daywe have to take into account the so-called From fake†

Bitcoin Fear and Greed Indicator Is 14 – Extreme Fear
Current Price: $29469 pic.twitter.com/mkVRiJsYhn

Bitcoin Fear and Greed Indicator May 22 2022

Bitcoin price up 2.6%

The Bitcoin price It rebounded to $31,300 last weekend after the crash, but was rejected there and fell into the $30,000 zone. However, Bitcoin struggled to stay there as well, dropping to $29,000 on Wednesday and even dropping briefly below.

On Thursday, the price can be a recovery But the price was actually rejected at around $30,500 and then fell back below $29,000 again. Yesterday, the price initially recovered, but did not go above $29,600.

Last night, Bitcoin dropped twice to $29,350 and then recovered to $29,600. This morning Bitcoin managed to break through this and then started to rise sharply. Bitcoin has also breached $30,000 and reached $30,150 at the time of writing KuCoin and 28,500 euros in Petavavo† This means that the price of BTC is up 2.6% today and the same price as last week.

# bitcoin It remains stagnant so be patient!

Wait for a decisive four-hour close above $30,750 or below $28,800 before entering a position. BTC dollars† Can be stretched by anticipating a trend #BTC direction.

Patience is a must! pic.twitter.com/nDxmQxG5mG

– Ali Martinez (@ali_charts) May 20 2022

Where is the bottom of bitcoin?

Earlier this week, the gains came to an end when stock markets like the S&P 500 turned red again. Although the correlation between these two markets has decreased slightly in recent days, it is still very high.

Macroeconomic developments are likely to determine the direction of the bitcoin price in the near future. If the stock markets open in the red on Monday, there is a good chance that Bitcoin will withdraw again. There is still a significant lack of demand and volume in this uncertain market.

The S&P 500 officially entered a bear market pic.twitter.com/N1lrcBdziT

– Fentwit (@fintwit_news) May 20 2022

Analysts remain divided as to where the potential bottom for Bitcoin price lies. It is certainly possible that we will see another retest of $27,000, but if the macro doesn’t go well, it wouldn’t be much of a surprise if bitcoin even tests the $20,000-$24,000 region. 200 weeks Exponential Moving Average Now comes in at $27,000 and 200 weeks simple moving average Priced at $22,000. On the upside, bitcoin needs to break $31,350 first.

many of # bitcoin models for #BTC bottom cycle.

1) Fibonacci extension to 1
2) 200 weekly moving average
3) Weekly EMA Multiplier -1.5

Lowest target range: $20-24K pic.twitter.com/c9Y9JIJ29D

– Project founder (venturefounder) May 21 2022

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supply # bitcoin Last activity over a year ago, it recently increased to expand to an all-time high. # encrypt

Currently = 65.37%

Remember, my expectation is that this metric will pass between 66% – 68%, coinciding with the start of the next major #BTC Uptrend. pic.twitter.com/OxsHatFn1y

– Plan ©️ (TheRealPlanC) May 21 2022