BTC review dated 16.05.2022

16.05.2022

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1 min

Bitcoin

After reaching $26 700 on bitcoin’s hourly timeframe, a steady local uptrend could be seen, which may indicate either a reversal or a correction during a global bearish trend. On the morning of May 16, there was a breakout of the local trend line, but there remains a possibility that this is a false breakout and the bitcoin price will return above $30 000 in the coming hours.

The material is not an investment recommendation and is published for information purposes only. Remember: technical analysis does not guarantee successful trading, as it is based on historical data only.