Analyst says reclaiming $37,500 is Bitcoin’s crucial ‘line in the sand’ By Cointelegraph

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Analyst says reclaiming $37,500 is Bitcoin’s crucial ‘line in the sand’

(BTC) price continues to limp lower as traders in the U.S. hit the BBQ to enjoy the upcoming Memorial Day holiday on May 31 and regulated futures and options markets like the CME are closed through the weekend.

Data from Cointelegraph Markets Pro and TradingView shows that after a brief attempt by Bitcoin (BTC) bulls to rally above $37,000 in the early morning hours on May 29, the price has tumbled below $34,000 as the support needed for a move higher failed to manifest.

4-hour chart. Source: TradingView
Bitcoin 4-hour chart. Source: Decentrader
4-hour chart. Source: Decentrader