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Crypto Has Reached May’s Max, Aiming Higher

Crypto Has Reached May’s Max, Aiming Higher

Fig. 3. Bitcoin has reached the levels seen at its May highs. Source: TradingView and FxPro

At the time of writing, Bitcoin is trading just below $80K, but during a period of reduced liquidity ahead of the start of the Asian session, the price spiked to near $81.5K, setting a new high over the past three and a half months. It was near these levels in May that the leading cryptocurrency formed a local rebound peak, so it is logical to expect consolidation at this level for 5–10 days, though it may take longer. The next stage of growth is expected to be the $90K region, where BTC has held steady for two months since the end of November last year.

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