RATE Group | Wild Weekend for Bitcoin Price? US Lockdown Loosens on Memorial Day
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Wild Weekend for Bitcoin Price? US Lockdown Loosens on Memorial Day

23 May Wild Weekend for Bitcoin Price? US Lockdown Loosens on Memorial Day

Posted at 08:46h in Bitcoin News by

Since dropping below the ascending channel trendline to $8,815 on May 21, Bitcoin (BTC) price has recovered 4.78%. BTC/USD continues to meet resistance at the 20-day moving average, obstructing traders’ desire to push the price above $9,300. 

Crypto market weekly price chart. Source: Coin360

In the United States, this weekend includes the Memorial Day holiday, meaning traditional markets will be closed on Monday and the crypto market will be left to its own devices. 

Typically trading volume thins on weekends so investors who find time to step away from the family BBQ will be watching to see whether or not larger players exploit the market to push the price of the top-ranked asset on CoinMarketCap in a new direction. 

BTC USDT 4-hour chart. Source: TradingView

In the 4-hour chart, we can see Bitcoin’s price marching along the gradient of the ascending channel trendline by painting higher lows. The price continues to meet resistance at the 20-MA of the Bollinger Band indicator but…

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