Date: 2023-05-11T17:40:12Z Creator: Bitfolio Academy
The SEC’s attacks on crypto are finally having an effect. Bitcoin sentiment is sliding, and the price is down 3% today! Despite rallying over 100% since its November 2022 bottom, it looks like Bitcoin’s 2023 rally is coming to a grinding halt. For the first time since March, the daily chart is giving us a sell signal. If BTC dips below $27,100, we could see a plunge to $25,100.
The S&P 500 and gold have been strong, while banks and the dollar have taken a hit. But unfortunately, Bitcoin is still feeling the bear’s pressure. It looks like 25k is more likely than 30k as the Bitcoin price continues to plummet.
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