2022 – The price of Bitcoin rose to 32.3 thousand dollars, but three factors could limit its recovery By Cointelegraph


Bitcoin price rises to 32.3 thousand dollars, but three factors may limit its recovery

(BTC) The price action has been surprisingly bullish since May 27th. Weekends, especially bank weekends, are notorious for volatility and indecisiveness, with great fuss over price movement being the norm. Even in bull markets, bearish price action is often the norm, but BTC bucked this trend.

Daily Chart (Coinbase (NASDAQ :)) Source: TradingView

Bitcoin surged nearly 11% between May 27-30, breaking through the critical $28,600 level to rebound above $30,000 to $31,700. The weekly close was the highest in the past 20 days and gave bulls the three strongest days in more than two months. However, macroeconomic concerns may weigh on the upside potential.

Fertilizer Price Index Source: ycharts.com
Wheat futures (ZW) weekly chart Source: TradingView
(NYMEX). Source: TradingView
Ichimoku Kinko Hyo BTC/USD daily chart. Source: TradingView

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