Bitcoin Bulls Try To Break The Downtrend – Investing.com
- Date: 04-Jun-2021
- Source: Investing.com
- Sector:Technology
- Country:Middle East
Bitcoin Bulls Try To Break The Downtrend – Investing.com
is making another attempt to test an important $40K resistance level. Over the past 24 hours, the benchmark cryptocurrency is up 4%, approaching $39K. It is too early to draw final conclusions, but the renewal of the highs of the outgoing week can be considered a local victory for the bulls.
During the last two weeks, there was a sequence of declining peaks on the Bitcoin chart, and the attempt to break this trend should be seen as a bullish signal. If it remains in force, we may see a clear revival of institutional buyers by the end of the week, followed by retail investors who may enter the market over the weekend.