Bitcoin Price Weekly Update: 17th May – 23rd May 2021

It’s a surprise how bitcoin had a massive plunge to the downside. A lot of traders will have lost a lot of money due to this huge bitcoin blast.
Last week we envisaged that bitcoin price will have a major push after breaking the range. Bitcoin did break the lower range and plunged lower. Certainly, this would have caused serious loss for most traders.
How to trade this period is to maximize pullbacks. This will require you spotting strong support levels and take short trade before the major downtrend takeover. Pending till bitcoin reverses and starts a new uptrend this is the only way to go.
This trading plan only affects those that trade daily, those who hold bitcoin for a longer time need not do this.  

Looking at the technical indicators:
    • Major Support Level – $$56,236
    • Major Resistance Level – $59,505

Our Recommended Exchanges for placing Crypto Trades

for USD/BTC:for Naira/BTC: If you have any questions, leave them in the comment section below. Disclaimer: This article is in no way a financial advisor for your trading. Any action taken in this regard is done at your own risk. Nigerian Bitcoin Community is not liable for any loss or gain as a result of the application of this content. We advise you to do your own research.

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