Crypto News Today – Bitcoin Updated to the Lows of the Year
Bitcoin Updated to the Lows of the Year: (1:39)
Tide Turning Changes: (3:47)
Crypto News: (4:44)
Bitcoin Price: (6:32)
Ethereum Price: (7:23)
Bitcoin (BTC) sank to a low of $29,730, testing the $30,500 horizontal support area.
Bitcoin has been strengthening inside an ascending parallel channel since January 24. The price repeatedly tested the support resistance lines of this channel. Finally, on May 5, BTC made its bearish breakout.
On May 10, the market reached the local low of $29,730 and rebounded from it, checking the horizontal area of $30,500 as support. BTC has not tested these levels since July 2021.
There is an interesting moment that draws attention. On May 9, bitcoin’s trading volumes rose to their highest level in almost a year. More precisely, they were the highest since May 19, 2021.
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