Market Analysis of Bitcoin on Monday, May 31, 2021

2021-05-31 14:55Source:BtcDana

BITCOIN


The total global market value is $1681.829 billion, 24H increase of +3.19%, 7 days increase of -2.61%. Amongst them, the market value of BTC is $666.356 billion, accounting for 39.62% of the world's total market value, and the price is $35,600 (+3.03%). BTC contract holdings are RMB 21.01 billion, compared with the previous day's -18.37%. British bank Starling banned cryptocurrency exchanges from depositing in its bank. From a technical point of view, bitcoin's weekly line forms a small bullish candle, and fails to meet the demand of 50% of the correction, and the market is still weak. The daily candle continues to fluctuate at a low level, and the bulls are under pressure. H4 graph shows that the candle maintains its downward trend, and all indicators shows bearish signal. Overall prioritise sell on high on the fluctuation zone. The deciding point whether to buy or sell is near 33400.

 https://asset.ycxfy.com/upload/file/1622390400000/1622447878214.png

Resistance:35500-36500-37700

Support:33400-32000-29000


Disclamer: The report is speculatif and DO NOT guarantee profit. Not financial advice. Please trade at your own risk.


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