Bitcoin $BTC - 05/22/2024: Strong volatility, unclear short-term trend

Current price: $70,932.35 USD/BTC

Market cap: $1,397.46 billion USD

24h trading volume: $53.30 billion USD

24h volatility: +5.99%

All-time high: $69,044 USD (November 2021)

All-time low: $67.81 USD (July 6, 2013)

Bitcoin has surged 5.99% in the past 24 hours, reaching a one-week high of $70,206 USD on May 21.

However, this rally may be short-lived, as the overall cryptocurrency market is experiencing volatility due to concerns about inflation and tight monetary policy.

Some analysts believe that Bitcoin could continue to rise in the short term, heading towards an all-time high of $70,000 USD.

However, others believe that Bitcoin could fall to $60,000 USD or lower in the near term.

Short-term trend:

The short-term trend of Bitcoin is still unclear. The market is experiencing a lot of volatility and may continue to do so in the coming weeks.

Ae should be cautious when trading Bitcoin at this time.

Technical indicators:

The daily price chart shows that BTC is forming a symmetrical triangle pattern. This pattern could lead to a breakout to the upside or downside in the future.

The RSI indicator is at 54, indicating that the market is in a neutral state.

The MACD indicator is generating a buy signal.

Bitcoin prices can change at any time and are difficult to predict. This is not investment advice.