#BTC #BTC Bitcoin Technical Analysis: Bulls Push Forward, Breaking Upper Resistance Levels

As of May 20, 2024, bitcoin is trading at $67,224, reflecting a strong market performance. The cryptocurrency has experienced a 24-hour range between $66,000 and $67,431, with a market capitalization of $1.32 trillion and a trading volume of $21.18 billion.

Bitcoin

The daily chart indicates that bitcoin (BTC) is in a prolonged uptrend, having recently reached a high of $67,654. Key support is observed at around $56,500, a level tested during the most recent dip. Despite the strong bullish momentum signaled by multiple large upswings, there is noticeable selling pressure near the recent highs, as evidenced by the dips that followed. Volume fluctuations align with significant price movements, suggesting active market participation.