BTC Daily Update 31 May 2021
Based on BTC 4H chart, it is following my previous prediction where the price will rally one more time before another drop.
BTC is currently respecting the support of the bearish pennant flag at 33k and bouncing off of it.
In the short term, BTC may test its resistance at 38k.
The Stochastic RSI indicator indicating a bullish cross is forming while another pullback may be around the corner. The price will most likely to play out based on one of these two scenario.
I am expecting BTC to play out the first scenario because the volume is depleting.
BTC is currently respecting the support of the bearish pennant flag at 33k and bouncing off of it.
In the short term, BTC may test its resistance at 38k.
The Stochastic RSI indicator indicating a bullish cross is forming while another pullback may be around the corner. The price will most likely to play out based on one of these two scenario.
I am expecting BTC to play out the first scenario because the volume is depleting.
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