Analysis $BTC May 8, 2024

Bitcoin, Once Again We Cannot Break Through 64,500 USD. Yesterday the bulls failed to break this key area for us to continue rising, but I see no reason to be disappointed here, as it is clear from yesterday's statement about "interest rates not changing". change for a while and the Fed won't cut it at the next meeting" is something that traders here don't like very much, however, nothing unusual.

Note that we are near the $62K level, this is where the BULLS will start to react or we will have to drop lower to find good support in the large orders at $59K/60k.

We attacked $64,500 twice yesterday, but we did not encounter bad news, noticing that the price kept falling according to the news, so the logic here is: ONCE THEY WILL FINISH.. .so they won't be able to keep the BULLS response here.

If we look at the large SELL orders, they continue to be placed at the same price, around 73k USD and some are still at 65k USD, yesterday we did not see any large sell orders placed below the price 65k USD to force price drop So price drop with cash sellers not liking the news, that's normal.

Yesterday some orders were triggered at 62,700 USD and it seems to me that the majority of them have been triggered and are still negative, I hope today we close above 62k USD to There continues to be prospects of attacking $65k and closing above that price by the end of the week.

I'm still optimistic here!

Let's break the 65,000 thousand USD level soon!