Bitcoin will be strong at $69,000 for the monthly close!
The golden May closing battle!
Bitcoin is ushering in a critical moment. Whether the monthly closing price can exceed $69,000 will become a decisive indicator of market trends! It is said that this figure is not only the highest level in history, but also an important threshold that needs to be broken at present.
**Bitcoin's dead stock challenge**
Bitcoin is moving towards a green closing in May, but a bigger battle continues. Bitcoin, which once hit an all-time high of $73,800, is now unable to reach this high again, and the price has been stuck in a period of exploration.
Keith Alan, co-founder of cryptocurrency company Material Indicators, said in his analysis of X that $69,000 will become a key resistance level for BTC prices. In this case, he emphasized the amazingness of the current market and pointed out the key points of price movements.
**Tomorrow's big moment**
"If you're surprised by the direction of the market, you haven't noticed the key point of the market," Allen said. He believes that before the BTC bull market confirms the R/S flip of $69,000, a legitimate and sustainable breakout is not expected. He sees $69,000 as the current resistance level, and once it breaks, it will become a support level, thus maintaining the price fluctuations in this range.
"A one-month close above or below $69,000 will tell us if we are building the next phase or if we will continue to consolidate," he added.
**Bitcoin's Golden May**
At this critical moment, Bitcoin marks the most glorious May in recent years. Data from the CoinGlass monitoring source shows that this is the first "green" May in four years and the best May since 2019.
Although Bitcoin rose nearly 70% in the first quarter, it continued to fall in the second quarter, so investors are still looking forward to the next market trend.
**Conclusion**
In Bitcoin's golden May, the $69,000 mark will determine the future direction. Investors, let us wait and see, and witness the arrival of this critical moment!
