Post-deviation – Bulls continue to suffer at the start of June 2022. Bitcoin (BTC) returns below the $30,000 mark. Can traders and investors expect Bitcoin to return to $32,000 in the coming days, replicating the bullish pattern of late May 2022?
This Bitcoin price analysis is brought to you in collaboration with the Traditiong du Coin and its algorithmic trading solution finally accessible to individuals.
Headwind for Bitcoin: Still Three Months Until a Sustained Bull Return?
Bitcoin price rises above $30,700 on Bitfinex today, June 3, 2022. It subsequently loses $30,000. Bitcoin is trading at $29,695 at the time of writing. It is currently recording a daily loss of 1.90%.
Bitcoin is currently struggling to regain momentum and remains stuck around $30,000. For Mike McGlone, senior commodities strategist at Bloomberg Intelligence, a US Federal Reserve (FED) “ emboldened who fights inflation “, constitutes the “main headwind for Bitcoin and the crypto market at the start of June. »
Forecasts point to a 50 basis point increase in key rates by the FED in June 2022.
However, Bitcoin seemed to be on the way to a solid bullish recovery at the end of May 2022. The twitto EmperorBTC estimates that this rise of Bitcoin to $32,000 “ was just a diversion “. He shared a chart showing “the top of the previous range acting as resistance.”
How much longer do markets have to wait before we see a real sustained recovery to levels well above $30,000?
The Crypto Rover tweeter shared a graphic, showing a Bitcoin “ creating a bullish reversal pattern “. Time would be “in our favor now”. But Crypto Rover admits that it “will take maybe another 3 months before Bitcoin finally starts rising at a significant rate.”
Indicators or patterns that argue for a bullish bitcoin reversal, continue to multiply. However, the Bitcoin winter may not end until the end of summer 2022. The Federal Reserve, which for the moment seems determined to take the necessary measures to control inflation, will not facilitate a sustainable return to the bulls.
Is it possible to be gwinner every time? Whether the Bitcoin price is in great shape, or going through turbulence, Coin Trading offers you to increase your chances of success. Indeed, Coin Trading allows individuals to access a trading tool algorithmic and 100% automated. A real trend mechanism, this tool has been designed to adapt to market reversals and position itself on the most dynamic crypto assets of the moment.