Bitcoin investors can breathe a sigh of relief today, after months of crashing and turbulence, the cryptocurrency has some positive results
We saw similar scenes last weekend, but Bitcoin experienced another relief bounce over the past 24 hours
The cryptocurrency is holding support above $27,000 and $30,000.
Analysts say this could keep short-term buyers active.
BTC is up by 4 per cent over the past 24 hours, but overall it still remains down over the past week.. but only by 1 per cent.
That suggests the current price range remains intact, which is typical after several weeks of negative returns.
The recent downtrend in price has stabilised above the May 12 low at just over $25,000
Still, momentum remains negative on the weekly and monthly charts.
Some say this means an upswing in BTC could be limited.
The next resistance zone is between $33,000 and $35,000 – when that will happen… that’s anyone’s guess!
