BTC price preps 'most parabolic phase' — 5 things to know in Bitcoin this week

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Bitcoin heads to the May monthly close with consolidation ticking down to what new BTC price analysis calls its 'most parabolic phase.'

BTC price action is keeping bulls on their toes, as old all-time highs prove hard to flip to resistance. Can $69,000 fall by June?

Plenty of optimistic BTC price predictions are circulating, some including a six-figure target for BTC/USD in 2024, but concerns of a deeper retracement linger in the background. At the time of writing on May 27, $68,100 and $69,800 were key levels of interest, the latter in the middle of a “cloud” of liquidity across order books.“Where to buy? Losing $66K and I think we'll test range low and be buying there again. That's the level where you'd want to get your purchases ready.”

“Both resulted in massive expansion afterwards. I'm not expecting $BTC to go slow this time either, once it leaves this price range behind us.”Some, however, still have a larger correction as their base case.Into the weekend, Material Indicators added that it was “fully prepared” for $60,000 to make a comeback.

 

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