Post
Topic
Board Speculation
Re: Month of May. Bitcoin price guess
by
dragonvslinux
on 02/05/2023, 13:50:23 UTC
Let us continue the fun of monthly price guess. What did you think will be bitcoin highest price in May?

Maybe around $32K? Slightly higher than than months high. To me a correction is looking increasingly likely with $28K and 50 day MA struggling to hold as support, so I think at a minimum $25K previous resistance will be re-tested as new support, or failing that $23K. But I also think price can recover quickly from these levels, similar to the recovery from $20K to $30K, creating a bullish wick on Monthly time-frame.

So overall not expecting much of a higher price this month unless $28K can hold as support, but certainly a bullish wick can be created if we see a correction at the start of the month followed by a recovery towards the end. Then even if price only closes around $30K again for a negligible monthly price increase, it could well be a 20% to 25% increase from the monthly lows which would be very bullish for June.