Technical Analysis – BTCUSD consolidates around 27,000
Posted on May 23, 2023 at 1:26 pm GMTBTCUSD (Bitcoin) has been generating a structure of lower highs and lower lows after peaking at the 10-month high of 31,064 in mid-April. Even though the king of cryptos managed to halt its decline and recoup some losses, any attempts for further advances have been repelled around the 27,500 mark. The momentum indicators are reflecting a cautiously positive tone. Specifically, the stochastic oscillator is ascending steeply after posting a bullish cross, while the RSI has ticked up slightly below its 50-neural mark. [..]