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BTC Struggling to Break Through $69K Resistance

Written By: ChartChamp

May 31, 2024

Yesterday BTC had a bullish rebound to climb back above the $69k resistance level. However, this rebound was short-lived, and BTC struggled to stay above $69k. Today there is some resistance at $69k again with another short-term rejection. These rejections can send BTC back down to $65k as we approach June. I’ll give another update at the end of the day for Bitcoin’s monthly candle close.

BTC Monthly Candle Close Above $61K

BTC has closed above $61k for the third consecutive month in a row, and has been building support at the resistance of previous all time highs. This is not the most bullish monthly candle close, but it still looks pretty solid. BTC needs to break through the red trendline around $71.5k to start a strong bullish rally. I think we can see that in June, and I think it is looking good for the start of a strong rally this upcoming week on the first week of June.

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