Bitcoin Price Weekly Update: 24th May – 30th May 2021

Bitcoin is moving to the lower side. The previous week was a serious drop in price for bitcoin. Lots of investors lost their capital and are still hoping that the price finds a rising move.
Bitcoin price has hit a year low at $30,000 and may still dive some more in the course of the year.
Presently, $42,140 is the resistance holding price from changing to the upward direction and this seems not to happen soon.
In last week’s post, I mentioned that the only way to maximize profit in a downtrend is to trade pullbacks. This means you only need to spot strong support areas on higher timeframes and then enter and exit trades on smaller timeframes. (N.B this strategy is mainly for advanced traders.)


Looking at the technical indicators:
    • Major Support Level – $34,018
    • Major Resistance Level – $42,140

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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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