#BTC.USDT
1-Day Analysis
May 16, 2024
The analysis suggests that Bitcoin has met its weekly resistance and shown minor rejection. A decisive breakdown will be confirmed if the weekly candle fails to close above this resistance within the next 3 days. This would indicate the continuation of the bullish trend. In the 4-hour timeframe, we anticipate a potential retracement to the 4-hour support level, from which an upward movement could ensue again.
Key Support Level: 58,500
Key Resistance Level: 66,600
