កម្មវិធីនិពន្ធព័ត៌មាន- The lack of a larger pullback helped alleviate concerns about the $22,000 scenario.
- The $31,500 level may serve as the next significant hurdle.
After a sustained decrease, the price of Bitcoin found support at the $28,500 level. A new uptick began once a new base was established at $28,600. The $29,500 resistance mark and the 100-hourly SMA were both broken. The price even broke through the $30,000 barrier level. However, the price had a difficult challenge in the $30,600 range and is now trading in the $30,300 range.
Bulls Need to Hold Momentum
In other words, Bitcoin (BTC) reached overnight highs on May 20 as the weakening of the U.S. dollar provided much-needed relief to bulls. Although the pair was still unable to turn $30,000 into dependable support, the lack of a larger pullback helped alleviate concerns that last week’s $22,000 collapse event did not signify the bottom.
As a backdrop to Bitcoin’s good performance, DXY (the U.S. dollar index) dropped 2% in a week from two-decade highs. The អេស & ភី ៥០០ ended May 19 down 0.58 percent, and the Nasdaq 100 was down even less, suggesting that the stock market had taken some of the pressure off.
A break of the $30,600 resistance levels might signal the beginning of a new upward trend in the near future. The $31,500 level may serve as the next significant hurdle before the price gains more upward momentum.
Failing to break over the $30,600 level, bitcoin might begin a new downward trend. The $30,000 level serves as an instant resistance level on the downside. The 100-hour SMA and the $29,800 level serve as the following significant level of assistance. According to សម្ព័ន្ធអង្គការ CMCតម្លៃ Bitcoin ថ្ងៃនេះគឺ $30,322.67 USD ជាមួយនឹងទំហំជួញដូរ 24 ម៉ោងគឺ $34,621,832,492 USD។ Bitcoin កើនឡើង 4.44% ក្នុងរយៈពេល 24 ម៉ោងចុងក្រោយ។
Source: https://thenewscrypto.com/bitcoin-btc-price-surges-above-30k-overnight-providing-relief-for-investors/