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Analyst: The key support level for Bitcoin is $73k. If the weekly candle closes above it, a double bottom breakout is likely to be confirmed.

MarsBitNews
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Mars Finance News, on May 31, Bitcoin remained volatile around $73,500 over the weekend. If the current level remains unchanged, Bitcoin will record approximately a 3% monthly decline in May. Next week, U.S. labor market data will become an important variable influencing risk assets, including the ISM Manufacturing PMI, ADP employment data, and the Non-Farm Payroll report. Andre Dragosch, Head of European Research at Bitwise, stated that if Bitcoin continues to follow the economic growth and risk appetite trading logic, it should reprice higher from the current level. Trader Rekt Capital said that $73,000 is the key support level at present. If Bitcoin closes the weekly candle above this level, it will be more favorable for confirming a double bottom breakout pattern and will support the continuation of the subsequent upward trend.
BTC-0.33%
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AlphaAfterTea
· 3h ago
It's normal to consolidate over the weekend, wait for the non-farm payrolls.
View OriginalReply0
LeverageWhisperer
· 3h ago
Growth narrative re-pricing, that sounds familiar.
View OriginalReply0
MintConditionMax
· 4h ago
I've been watching Rekt Capital's line for a long time.
View OriginalReply0
GateUser-0f8d377b
· 4h ago
Key support holds, the bulls still have a chance
View OriginalReply0
GateUser-55f70f75
· 4h ago
Next week's volatility is going to increase, watch your positions.
View OriginalReply0
ExitLiqNow
· 4h ago
Which is more sensitive, ISM or ADP?
View OriginalReply0
RecedingTideAfterTheRain
· 4h ago
Only a 3% decline, May isn't considered bad
View OriginalReply0
OpcodePoet
· 4h ago
73,000 level has been tested several times; can it hold steady this time?
View OriginalReply0
DoNotTouchTheLiquidationLine.
· 4h ago
Risk appetite returns, BTC will definitely follow.
View OriginalReply0
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