🚨 BTC Update May 3, 2024

Bitcoin is continuing its main trend in the long-term range which is still downtrend. I mentioned them in most of the articles in April. So now let's quickly analyze Bitcoin in May.

👉 BTC just had a very bad end to the monthly candlestick, closing with all its strength with a monthly decrease of $13,000. This will also be the premise for BTC to continue to decrease after a slight recovery and create a base to search for the accumulation zone again. increase in price in the long term trend

👉 BTC.D, the dominant price of Bitcoin, dropped sharply, returning to the 54% area, causing Altcoin to increase sharply, but BTC.D will return because it is meeting the weekly price increase trendline.

👉 The current Altcoin recovery is only a short-term recovery period when within 3-4 weeks most coins lose 40-60% of their value from the peak.

👉 BTC is returning to test the breakout zone at 59,400-59,800 which I mentioned about liquidity yesterday.

👉 BTC If the Daily candles tend to close above 61,200, we will monitor them with a new perspective, otherwise this short-term pullback will soon return to 55,600-56,300 to continue the trend if like being unable to break the trendline.

👉 Although ETFs and organizations are trying to find positive news, it is still not enough, the short selling effect is still maintained. Volume can increase but cannot break through. This section will prioritize Coins with low marketcap for pumping.

Please consider not shorting any coin that is being pumped strongly. Be careful to avoid losing money.

You guys think later about BTC after this week ends