An Overview of the BTC movement

May 31, 2020

BTC has been in a trading range since May 2020, for the last couple of days, it's been in an uptrend to test the upper range.

There are 2 possibilities at the moment :

- The first one: it breaks the trend line to test 9360-9400 ish levels, then depending on the price action we will determine its next move.

- The second one: bounces off the trend line to test the last high 9730 ish, or to the upper trading range at 9800 ish.

For the moment, I recommend holding trading to see which scenario it will follow.

May 31, 2020

Note

As we can notice, the price followed the first scenario and broke the trend line to test the above-mentioned support levels as seen in the pic.

Now we are entering a bearish trend and we will see whether the support level holds or breaks it to visit the lower level as seen in the pic as well.