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Bitcoin’s move to $32.4K was a fakeout — Here’s the price level most BTC traders are waiting for

Published 06/03/2022, 04:56 PM
Updated 06/03/2022, 07:40 PM
Bitcoin’s move to $32.4K was a fakeout — Here’s the price level most BTC traders are waiting for

The end of the first week in June brought more pain to global financial markets as the tech-heavy Nasdaq composite closed the day on June 3 down 2.3%, while the S&P 500 shed 1.4% of its value.

The cryptocurrency market hasn’t faired any better and data from Cointelegraph Markets Pro and TradingView shows that an early morning attempt to push Bitcoin (BTC) above $30,000 was hit with a wave of selling that dropped it to a daily low of $29,286.

BTC/USDT 1-day chart. Source: TradingView
BTC/USD 4-hour chart. Source: Twitter (NYSE:TWTR)
BTC/USDT 4-hour chart. Source: Twitter
BTC/USD 1-day chart. Source: Twitter

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Latest comments

So you say the 32k was a fakeout after it dropped back to 29k. Very smart. That was very valuable information. LoL
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