Bitcoin price is making its best attempt yet to climb back above $40,000 since the big crash in May. Thus far, the phrase “sell in May and go away” has worked like a charm, and it could take longer before buying coins back again is a profitable strategy.
That’s because the top cryptocurrency is struggling to hold above the middle-Bollinger Band, and if it can’t hold, it could result in another retest of the bottom of the band. Another retest could finally push the price per coin below support, making a clean sweep before a reversal.
Deja Vu: Why A Historic Move Could Be On The Horizon
For anyone who was around the crypto market during 2019, it feels like deja vu. At above $10,000, it wasn’t uncommon to see traders claiming the next stop was $100,000 or more. They were wrong, and Bitcoin crashed.
When it did, and sentiment shifted bearish, the cryptocurrency reversed with the third most