BTC review dated 25.05.2022

25.05.2022

242

1 min

Bitcoin

The global picture remains uncertain. The asset has already formed eight red weekly candles in a row (a historical record). It is likely that it will be the ninth red candle by the end of this week. Usually, a bounce follows in such situations, as bitcoin is in the extremely oversold zone and there is maximum fear in the market.

The current situation is complicated by uncertainty in the financial markets, a decline in stock indices amid tightening US monetary policy, and the high correlation of the crypto market with the S&P 500 and NASDAQ 100.

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.