Over the week, bitcoin has risen in price by 2.85%, to 35641, on Sunday - by 2.99%. Market volatility is decreasing. The trading range of $ 30,000–42451 narrowed to $ 33,550–39,200. If the upper border of the range is broken, the road will open to the buyers to the level of $ 46000, if the lower border is broken - to $ 25800.
At the time of this writing, Bitcoin costs $ 36,500. The price has been consolidating since May 19 and revolving around the $ 36,500 level near the balance line (sma55). The situation remains uncertain. Investors are digesting negative statements from central bankers about bitcoin. The probability of going both up and down is 50%.
After bouncing to $ 42451, the price corrected by about 85%. The upward movement from $ 31111 to 40841 was also 85% against the fall from $ 42451 to 31111. The fall from 40841 to 33379 was 76% against the last rise. If we take the 79-85% correction to the fall, the target zone for buyers now lies between $ 39079-39751.
The month is closing badly. At the moment, the losses are -37%. There are days off in the United States and Britain. The exchanges of these countries are closed. It is unlikely that Bitcoin will win back losses today. We can say for sure that, having covered three months of growth, we are in for a long consolidation.
After sharp falls, the price almost always corrected by 60-76%. If the fibo net is pulled over the last fall from $ 59,500 to 30,000, then the target zone for buyers looms at the levels of $ 52,500-55,250.
Summary: Bitcoin revolves around the level of $ 36500 for accumulating the forces trying to recover. The situation remains uncertain as the blow was dealt by the Chinese authorities and negative statements by the heads of central banks. At the end of the month, losses amount to -37%. For the next couple of days, the target zone for buyers now lies between $ 39079-39751. If the lower boundary of 33550 is broken, the road to $ 25800 will open.