Bitcoin (BTC) headed toward $27,000 after the May 11 Wall Street open as bulls failed to show strength.
BTC price “rolls over” after brief recovery
Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it risked a further loss of support.
After a modest recovery from local lows seen the day prior, the pair remained weak, even as new United States macro data offered bullish cues.
“Dump was retraced but then price quickly rolled over again,” popular trader Daan Crypto Trades summarized.
“We’re still trading at the range lows and until broken I think shorts aren’t great R:R. Bulls need to show strength by retaking the daily open for me to consider a possible reversal scenario.”
As Cointelegraph reported earlier, market participants continued to prepare downside targets, with many focusing on the area around $25,000.
“I remain short personally, but for anyone not in a short yet i would wait until we lose $27,000 then look to short this support zone loss,” fellow trader Crypto Tony continued.
“For now we are holding it so no reason to short just yet.”
Among the bullish voices on the day was trader and analyst Moustache, who in optimistic analysis focused on longer-term price trends.
Specifically, two moving…
