This week, the bears threaten to force Bitcoin prices below the critical support levels after the pair trades in the overbought region for about a week, offering both bearish and bullish swing trading setups on the intraday charts.
Let’s look at these technical price patterns and BTC news that traders are paying attention to.
In the news
Impact of institutional investors in the Bitcoin BTC market – J.P. Morgan Chase
Following an examination by asset management firm, Bitwise, a notable number of trade volume issued by exchanges may be false.
In a Bloomberg broadcast, J.P. Morgan Chase indicated the month of May to be the best performing month for the CME Group’s Bitcoin futures, as the implied volume achieved a high of $500 million USD.
J.P. Morgan affirmed that a variation in the volume from exchanges and Bitcoin futures shows an improvement in institutional investor trust towards the number one cryptocurrency.