$BTC #BTC.USDT 1-Day Analysis May 16, 2024 The analysis su

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$BTC #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

$BTC 
#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

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