Institutional investors continue to flow in despite Bitcoin’s lackluster performance - Aliens: AI Crypto News & Markets Updates
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Institutional investors continue to flow in despite Bitcoin’s lackluster performance

PublisherPublisher
FX Street

Wed, May 25, 2022

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Aliens TLDR

Bitcoin price has risen 5% over the last 12 hours and looks ready to retest the $31,493 barrier.

Bitcoin price is showing signs of a reach for the range’s upper limit as it bounces off a crucial support level.

Bitcoin price created a range extending from $28,575 to $31,493 as it rallied 10% in roughly 24 hours.

If this rally continues, Bitcoin price will likely make a run for the equal highs at $30,759.

While this move is bullish, BTC has not swept the range low at $28,575 and has prematurely kick-started an upswing.

However, if Bitcoin price takes a U-turn around the $30,034 barrier to sweep the range low, then the resulting upswing will likely have more oomph.

BTC/USDT 1-hour chart On the other hand, if Bitcoin price produces a four-hour candlestick below $28,575, it will create a lower low and invalidate the bullish thesis for BTC.

In such a case, Bitcoin price will crash lower and retest the $27,708 support level.

The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

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