Attached is the four-hour chart, of BTC against USD (own elaboration in Tradingview), at a price of $29,525. We can observe how the price has faithfully respected the support of $28,900 (dotted red line), which has been touched at least six times in recent months, making it particularly robust. As a resistance, we see the 100-period (non-exponential) moving average, a pillar that denotes long-term trend changes. The Parabolic Sar gave a signal of change, so it is to be expected that this time the resistance will be broken, although it is too early to say that the bearish momentum is over. For that, we will have to wait for the behavior of the weekly and monthly charts. We will keep you updated on further developments.
Chart – BTC Projection (05-26-2022)