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Bitcoin: What Today’s Selloff Means for June
Bitcoin showed its hand today with a break below $27,500. I’ve written about it a few times as a must-hold level for bulls, given Sunday’s close above it. As of now, this looks like yet another fakeout/deviation from BTC. And it isn’t the first time we’ve seen this in May. It’s been one deviation after the next for BTC since the $26,500 level materialized in March. Today’s selloff means the $27,500-$27,650 area flips back to resistance. It also re-exposes the $26,500 support region. But a word of caution before you get too bearish on Bitcoin heading into June. Today is the last trading day of May, so take ... (full story)
