This would be decisive for Bitcoin’s movement over the coming days

This would be decisive for Bitcoin’s movement over the coming days

Bitcoin
June 22, 2021 by Bobby Chaim
50
China’s clampdown on cryptocurrency mining in the key province of Sichuan piled on further selling pressure on the global cryptocurrency market. BTC’s 19th May swing low of $30,000 was the last major support zone and an argument can be made in the favor of a sharper retracement if the defensive line is not maintained. Although
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China’s clampdown on cryptocurrency mining in the key province of Sichuan piled on further selling pressure on the global cryptocurrency market.

BTC’s 19th May swing low of $30,000 was the last major support zone and an argument can be made in the favor of a sharper retracement if the defensive line is not maintained.

Although the visible range did not show a lot of interest for BTC at this price, buying demand heavily out-favored selling interest.

On the plus side, all the above indicators did gradually reset after BTC’s initial plummet on 19th May.

It has been over a month since the crypto-crash but there still have not been any clear signs of a recovery.

Disclaimer: AMBCrypto’s content is meant to be informational in nature and should not be interpreted as investment advice.

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