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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-faces-key-resistance-as-may-ends/" data-wpel-link="internal">Bitcoin Faces Key Resistance as May Ends</a><br></p>
<p style="text-align: justify">Leading cryptocurrency <strong><a href="https://en.coin-turk.com/significant-developments-in-bitcoin-etfs-lead-to-price-surge/" data-wpel-link="internal">Bitcoin</a> (BTC)</strong> starts a new week with key resistance as May closes. The transformation of former all-time highs into resistance keeps BTC price action bulls on alert. Could it drop to $69,000 by June?</p> 
<h2 id="macroeconomic-factors-in-bitcoin">Macroeconomic Factors in Bitcoin</h2> 
<p style="text-align: justify">Macroeconomic catalysts, as always, are heating up in the form of US <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> pressures, which are a significant focus for crypto and risk assets. Additionally, Bitcoin has its own hurdles to overcome. Consolidation below all-time highs has been ongoing for over two months. Some crypto analysts have optimistic BTC price predictions for 2024, including a six-figure target for the BTC/USD pair. However, concerns about a deeper pullback linger in the background.</p> 
<p style="text-align: justify">Cointelegraph Markets Pro and TradingView data confirmed that <strong>Bitcoin</strong> experienced a classic weekend price movement by rising above $69,000 but pulled back after the weekly close. Despite the holiday in the US, the cryptocurrency effectively closed the latest gap in the CME Group Bitcoin futures <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">markets</a>.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-356102 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/btc-18.jpg" alt="" width="786" height="461"></p> 
<h2 id="analyst-s-view-on-btc">Analyst’s View on BTC</h2> 
<p style="text-align: justify">Popular <strong>crypto</strong> analyst Daan Crypto Trades likened the cryptocurrency’s movement to a classic weekend pattern. The weekly close around $68.500 was still the strongest since early April.</p> 
<p style="text-align: justify">Commenting on the latest developments, trading source Material Indicators emphasized the need to turn $69,000 into solid support. In a post on X, the analyst from Material Indicators’ proprietary sources said:</p> 
<blockquote> 
 <p style="text-align: justify"><strong>BTC</strong> had a bullish weekly close, met with another failed attempt to reverse R/S at $69,000 and a new trend Precognition signal on the W chart. For me, breaking above $71,250 is invalid.</p> 
</blockquote> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-faces-key-resistance-as-may-ends/" data-wpel-link="internal">Bitcoin Faces Key Resistance as May Ends</a></h5>

Bitcoin Faces Key Resistance as May Ends

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