Bitcoin has bounced back strongly in the last 48 hours gaining 8% on the weekly chart. Today, the BTC price is up by another 5% moving past $31,500. The recent price rally comes as Bitcoin tries to catch up with the U.S. equity market after strong decoupling last week.
Bitcoin has given a strong breakout on the daily chart. This could be the start of its journey towards $38,000.
Very nice daily candle for #bitcoin!
Could this be the start of the relief rally up to 38k? pic.twitter.com/U7r5JQf9eK
— Lark Davis (@TheCryptoLark) May 30, 2022