Bitcoin

<div class="finbold">
 <p class="paragraph">In the final stretch of May, the world’s premier cryptocurrency has also been the one to keep investors and traders nearest to the edge of their seats.&nbsp;</p>
 <p class="paragraph">Indeed, after hitting a new all-time high (ATH) near $73,000 in March and substantially declining afterward – below $57,000 at one point – Bitcoin (BTC) finally again appeared poised to reach for new records.&nbsp;</p>
 <p class="paragraph">Still, after a climb on Monday, May 27 appeared to be heralding a breakout, BTC again entered into a decline that ensured Bitcoin price today stands at $67,992 – substantially below the hoped-for highs close to $73,000.</p>
 <div class="border border-red-300 rounded-xl p-6 not-prose mb-6">
  <h3 class="text-2xl font-black mt-0 flex gap-x-3 mb-5">
   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
    </path>
   </svg> Picks for you</h3>
  <div class="grid md:grid-cols-2 gap-x-10 gap-y-3 md:gap-y-5 divide-y divide-gray-300 md:divide-y-0">
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Prediction: Gold headed for ‘new record high soon’ <span class="self-center text-xs text-slate-500">20 mins ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    How rich is Ohio's "Hillbilly Elegy" senator: J. D. Vance's net worth revealed <span class="self-center text-xs text-slate-500">21 mins ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    This is 'Big Short' Michael Burry’s biggest bet <span class="self-center text-xs text-slate-500">39 mins ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    How rich is California senator Laphonza Butler; Laphonza Butler's net worth revealed <span class="self-center text-xs text-slate-500">56 mins ago</span>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/NdD5gZdm2ys23Bq2znXmBIJM9xTTfUTjZdUjlDJJhnPIBzc4YufjXbQchayl8HkshuQftFkFVmG1onXsF9XtjUzv_E3Pdhr-ajXGFudhEGvpu367XUos-cCbz9mYp_mUo1Bn-JaJn5LUVAOEehBpTco" alt="">
  <figcaption class="wp-element-caption">
   BTC 7-day price <a rel="noopener noreferrer nofollow" title="chart" href="https://thebittimes.com/tag/chart.html">chart</a>. Source: Finbold
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="h-technical-<a rel=" dofollow title="Category Analysis" href="https://thebittimes.com/analysis.html" rel="noopener noreferrer nofollow">Analysis-hints-at-<a rel="noopener noreferrer nofollow" title="imminent" href="https://thebittimes.com/tag/imminent.html">imminent</a>-surge"&gt;Technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> hints at <a rel="noopener noreferrer nofollow" title="imminent" href="https://thebittimes.com/tag/imminent.html">imminent</a> surge</h2>
 <p class="paragraph">The next turn in BTC’s most recent roller coaster ride, however, might be bullish, per the prominent crypto analyst Ali Martinez.&nbsp;</p>
 <p class="paragraph">On Tuesday, May 28, Martinez shared a post on X claiming that technical analysis (TA) of Bitcoin’s daily chart shows that the coin is poised for a significant upward move.&nbsp;</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/LMgqp24dW9hERnvh7QOvELiZS-JXLbBTTFqTOPOoFIMFovApzd9dcpOhZkJwxJ38JnJXN5bJeFGn6SiLArbKbgG6fn-4iJnlGkjmJxD1I1de26zKPBUJo7fb0AXgX30sYFAGrQiuKkFnAZDYD6b0yE0" alt="">
  <figcaption class="wp-element-caption">
   BTC hourly chart showing the results of TD Sequential analysis. Source: @ali_charts
  </figcaption>
 </figure>
 <p class="paragraph">The cryptocurrency expert utilized a technical analysis tool called TD Sequential, which has been mostly reliable for estimating upcoming price movements of Bitcoin throughout 2024.</p>
 <p class="paragraph">In a nutshell, TD Sequential analyzes an asset’s past performance in an effort to determine if a current trend will be confirmed or reversed. Martinez, in this case, identified that BTC is set for a one to four candle bar <a rel="noopener noreferrer nofollow" title="rally" href="https://thebittimes.com/tag/rally.html">rally</a>.</p>
 <p class="paragraph">A different prominent expert – Michaël van de Poppe – appeared to disagree with Martinez’s analysis in another X post published Tuesday, May 28.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/PulD5LEmCd3DXv_Gty91oGY3x-sohvey6TuTcD9GQuxnAAbOBhm7msdhtxN6hWFLik5oENq3oMkbkLJiun-6K9Mb_RSR-KmcI9bjY1u06fm-gMI5xXQvit0rjx9qES70LukOinjxRRfcvpX17b_QOvw" alt="">
  <figcaption class="wp-element-caption">
   BTC price chart with the crucial support zones marked. Source: @CryptoMitchNL
  </figcaption>
 </figure>
 <p class="paragraph">According to van de Poppe, Bitcoin rejected the significant resistance level at $70,000 as it held the price briefly on Monday, only to rapidly drop more than $2,000 per coin.</p>
 <p class="paragraph">Following such action, the expert concluded that there shall be no <a rel="noopener noreferrer nofollow" title="imminent" href="https://thebittimes.com/tag/imminent.html">imminent</a> breakout for BTC and instead expressed his hope that $66,000 will prove a stable support zone for the cryptocurrency.</p>
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/buy-alert-bitcoin-hourly-chart-signals-imminent-rally-tbt90123.html">https://thebittimes.com/buy-alert-bitcoin-hourly-chart-signals-imminent-rally-tbt90123.html</a></p>

Buy alert: Bitcoin hourly chart signals imminent rally

Table of Contents

TheBitTimes

Other articles published on May 28, 2024

Smart Altcoin Picks for Record-Breaking Earnings: Are 25-50X Gains Coming?

3 High-ROI Altcoins You Should Buy Right Now: Dogecoin (DOGE), Floki Inu (FLOKI), Retik Finance (...

Argentina Now Looks to El Salvador for Bitcoin Adoption Strategy

Semler Scientific Buys Bitcoin for Treasury

SEC Approves Spot Ethereum ETFs; Bonk Skyrockets; Traders Bullish on This New AI Coin

$KIM on MEXC

Join our free newsletter for daily crypto updates!