Bitcoin climbs above $31,500 in strong start to the week

Bitcoin climbs above $31,500 in strong start to the week

Bitcoin daily chart June 6 2022

Bitcoin is trying the upside again.

The late-May attempted breakout in bitcoin fell flat but the bulls have reground and are trying again today as the risk picture improves. A rally in tech stocks is giving a lift to all risk assets and bitcoin is participating. For most of the year BTC has traded in step with the Nasdaq but recently it failed to climb in step with the rebound.

Today we may be seeing some of that catch-up trade with bitcoin up more than 6%.

To generate some real momentum, it will need to rally above $32,376, which was the May 31 high.

About Author

Related posts

Leave a Reply