Bitcoin is looking like it won't finish May in the green.
BTC/USD annotated chart. Source: Skew/ Twitter
Continuing on the Binance order book, monitoring resource Material Indicators had some predictions for how the monthly close could play out. “For the most part, Bitcoin liquidity changes in the order book have been pretty subtle today, but by zooming out a little wider we can see ask liquid from the $31k - $32k range is dropping in closer to the active trading zone while bid liquidity has been laddered down, then adjusted slightly,” it“Liquidity consolidating into the range should dampen volatility heading into the monthly close. The bigger concern for bulls is that bid liquidity is thinning out.
Offering some hope in the event of upside returning, meanwhile, popular analyst Philip Swift noted liquidity lying in wait above $30,000.Swift, creator of on-chain analytics site LookIntoBitcoin and co-founder of trading suite Decentrader, suggested that any breakout could gain"momentum" and potentially head to $35,000.
"*IF* Bitcoin can get up to $31k there is a big amount of liquidity between $31k - $35k which could add some momentum to the move," he
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin, Ethereum Technical Analysis: BTC Back Above $28,000, as ‘Death Cross’ Approaches – Market Updates Bitcoin NewsBitcoin was once again trading above $28,000 on Tuesday, as the 10-day and 25-day moving averages neared a death cross.
Read more »
Bitcoin Recedes to $27K as Fed's Mester Favors Unabated Tightening'I don't really see a compelling reason to pause rate hikes,' Fed's Master said, validating the recent hawkish repricing of interest rate expectations in the U.S.
Read more »
Bitcoin transaction fee revenue soared this month thanks to OrdinalsBitcoin transaction fee revenue skyrocketed in May thanks to the growth in bitcoin NFTs.
Read more »
Bitcoin (BTC) About to Enter 'Hope' Market Stage – Close to 'Euphoria,' Analyst SaysThis crypto analyst is optimistic about future Bitcoin price rise, according to his tweet
Read more »
Bitcoin on-chain and options data hint at a decisive move in BTC priceBitcoin volatility is sitting at historic lows, but on-chain data and the options market points to an eventual sharp directional move.
Read more »
Hackers Breach Nigerian Crypto Trading Platform — BTC and Naira Assets Compromised – Security Bitcoin NewsPatricia also reassured the public that the assets belonging to its customers and merchants were still secure. GiftCard CryptoAssets
Read more »