Bitcoin (BTC) - May 23

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Bitcoin (BTC) - May 23

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Trend line or point to be supported: Long-term downtrend line (2), 9004 points

Trend line or point where additional upside is possible: downward trend line (1), 9274

Complete downtrend transition point: 8463 or less


-Overall coin market trend-

(USDT dominance chart.)
It is located near the gap points 3.48 and 3.50.
I think the following is the rise in USDT dominance.
1. New USDT issuance.
2. Sell coins at the USDT market.
I think I have been buying altcoins or major coins in the BTC market since the new USDT issuance.

(This is the BTC Dominance Chart.)
Altcoin and major coins are on the rise as they fell to the 67.44 point.
You need to make sure you can touch the 65.89 point.

I think that BTC's price adjustments have moved those who want to invest in BTC and those who are investing into Altcoins and Major Coins.
You may think that this has provided an opportunity to increase the price of BTC .
However, I think it may be a process to prepare for the decline depending on where BTC is supported.

I think it is necessary to check at what point they are supported around May 24 (23 ~ 25).

If you fall below the downtrend line (2) and touch the 8625 point, I think you are ready for the downturn.
If not, I think it was a price adjustment to go higher.

If it rises to 9415 ~ 9728.5, which is the high volume profile section, it is expected that it will determine whether it can lead to further increase depending on the strength of the increase.

If it does, I think there is a possibility that it has fallen near or below 6543 after June 3rd.


** Check support, resistance and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All descriptions are for reference only and do not guarantee profit or loss on investment.

Description of abbreviations shown in chart
R: A resistance point or section where a countermeasure is needed to preserve revenue.
S-L: Stop-Loss point or section
S: A point or section that can be purchased for profit generation as a support point or section



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