Wild Weekend for Bitcoin Price? US Lockdown Loosens on Memorial Day

Wild Weekend for Bitcoin Price? US Lockdown Loosens on Memorial Day

Gate Trade News Saturday, May 23, 2020 18 0

Bitcoin’s recovery to $10,000 is currently hindered by resistance at the 20-MA and with a holiday weekend coming up traders brace for volatility.

Since dropping below the ascending channel trendline to $8,815 on May 21, Bitcoin (BTC) price has recovered 4.78%. BTC/USD continues to meet resistance at the 20-day moving average, obstructing traders’ desire to push the price above $9,300. 

In the United States, this weekend includes the Memorial Day holiday, meaning traditional markets will be closed on Monday and the crypto market will be left to its own devices. 

Typically trading volume thins on weekends so investors who find time to step away from the family BBQ will be watching to see whether or not larger players exploit the market to push the price of the top-ranked asset on CoinMarketCap in a new direction.