Market enters a 'wait-and-see phase' as Bitcoin struggles below $40,000
Cointelegraph
Published May 27, 2021 06:10PM ET
Updated May 27, 2021 07:40PM ET
Price action for Bitcoin (BTC) and the wider cryptocurrency market was relatively subdued on May 27 as nervous traders remain unsure of what comes next following last week’s market plunge that saw leveraged traders wiped out as BTC dipped as low as $30,000 before its price rebounded.
Data from Cointelegraph Markets Pro and TradingView shows that while Bitcoin's price has managed to put in higher highs and higher lows over the past week, bulls continue to face stiff resistance at any meaningful attempt to break above $40,000 as bears defend the psychologically important level.
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Written By: Cointelegraph
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