Bitcoin's volatility is lower than what we saw in the first half of May, and it looks like it is trying to stabilize between the $35,000 support level and the $37,000 resistance level. At the same time, Bitcoin dominance, which measures the market value of Bitcoin. As a percentage of the total market value of cryptocurrencies, it failed to gain a foothold above the 20 EMA at 44% and fell below the 43% level.
this picture is for aqnalysis and we can see where is lying bitcoin Bitcoin continues to trade within a narrow range between the $35,000 support level and the $37,000 resistance level, which worries the cryptocurrency bulls.If Bitcoin falls below the $35,000 support level, it will rise to the next support level of $32,000. If this level of support is successfully tested, Bitcoin will fall to a low of $30,000 in May. On the other hand, Bitcoin needs to break the $37,000 resistance level to test the key resistance level of $40,000. The 20-day EMA is USD 40,500, so Bitcoin is likely to face strong resistance in the USD 40,000 to USD 40,500 area.
