Bitcoin remains in a tight range with low liquidity, but expectations for new local lows are increasing.
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Bitcoin (BTC) looked poised to give up $27,000 as support on May 17 with traders lying in wait for new lows.
BTC/USD 1-hour candle chart on Bitstamp. Source: TradingViewWhales meet low liquidity
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Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading near $26,800 at the time of writing.
The pair had staged multiple crosses of the $27,000 mark the day prior, that area forming a low-timeframe focus now at risk of breaking down.
BTC/USD annotated chart. Source: Crypto Tony/ Twitter
“3 wave up into resistance, followed by a retest and a rejection off resistance zone,” popular trader Crypto Tony summarized about recent activity.
He
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