Bitcoin (BTC) is approaching the $27,000 mark after the Wall Street open on May 11, but bulls have yet to show strength. On the hourly candle chart (Bitstamp), BTC/USD seems to be “rolling over” after a brief recovery. Cointelegraph Markets Pro and TradingView data reveal that the pair remains weak and risks further losing support. Although the new US macro data offers bullish cues, market participants are still preparing for downside targets, with many focusing on the area around $25,000. In an optimistic analysis focused on longer-term price trends, trader and analyst Moustache points to two moving averages, the 20-week and 200-week, which are about to stage a bullish crossing. The latest readings from CME Group’s FedWatch Tool show market consensus for a June rate hike pause at over 96%. This article does not provide investment advice and readers are advised to conduct their research before making investment decisions.
BTC price risks $27K loss as Bitcoin trend lines brew ‘bullish cross’
