Two Peaks: The chart shows a peak in early May at around 59,459 and another peak in late May at around 59,357. The heights are nearly equal.
Trough: Between these peaks, there is a low point around the middle of May, around 50,000.
Volume: Volume does appear to decrease slightly on the second peak.
Neckline: The neckline would be around the 50,000 mark, the lowest point between the two peaks.
A rally above the 200 DMA was just rejected.
BTCUSD MACD shows momentum remains bearish.
Trough: Between these peaks, there is a low point around the middle of May, around 50,000.
Volume: Volume does appear to decrease slightly on the second peak.
Neckline: The neckline would be around the 50,000 mark, the lowest point between the two peaks.
A rally above the 200 DMA was just rejected.
BTCUSD MACD shows momentum remains bearish.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.