Technical analysis $BTC May 30, 2024

The failure of the bulls to push and sustain the price above $70,000 has dragged Bitcoin to the 20-day exponential moving average ($67,169)

The price action over the past few days has formed a symmetrical triangle pattern. If the price breaks below the triangle, it will signal that the advantage has gone to the bears. The pair can drop to $64,600 and eventually to $59,600.

Conversely, if the price rises from the support line and breaks above the triangle, it will show that the bulls are still in command. The pair will then attempt to rise to $73.777. If the bulls overcome this hurdle, the gain can reach $80,000.