Bitcoin Rejected Near $38K After Two-Day Price Gain

From coindesk.com

Bitcoin is struggling to extend its two-day winning trend and remains coiled in a narrowing price range. The cryptocurrency is currently trading 2% lower on the day near $36,600, having faced rejection around $37,900 during the Asian hours. The cryptocurrency dropped 35% in May, registering one of its biggest monthly drops on record. Prices are still up 25% on a year-to-date basis. Bitcoin's recent price congestion between $30,000 and $40,000 has taken the shape of a symmetrical triangle. The daily chart MACD histogram has crossed above zero, signaling scope for a triangle breakout. Bounce, if any, is likely to be ... (full story)