FX.co ★ Bitcoin analysis for May, 30.2019

Bitcoin did nice flash up and reject from strong resistance of $8.910. The rejection of the round number $9.00 is a good sign that aggressive sellers entered the market.

White horizontal line – Major resistance

Red horizontal line 1- Support 1

Red horizontal line 2 – Support 2

BTC did successful test and reject of the key resistance and round number at $9.000, which is strong sign of the weakness. We found that key rising trendline-support to be very important for further downside. You can watch for potential breakout of the trendline to confirm further downside. Downward references are set at $7.856 and $7.425. Key resistance remains at $9.000.