#USCorePCEMay
📊 Bitcoin is experiencing significant selling pressure at the 107k-111k areas.
Since mid-May until now, the price has been fluctuating between these two areas, with strong rebounds at the support area of 99k,
which is considered very strong.
Based on the reality and data, and according to our reading of the market in general, I can't be certain, but it seems likely that we will visit the 98k area again due to the selling pressure occurring.
Despite the emergence of good news regarding Bitcoin from the Bitcoin reserve that the Trump administration announced to implement the executive order to create a "strategic reserve" of Bitcoin, in addition to implementing similar laws in Texas and elsewhere, as part of plans to make Bitcoin a part of state reserves, the indicators and analysis are putting significant pressure to sell in those areas, especially since we are still in overbought areas.
In summary... Bitcoin might visit the 98k areas, which seems closer to reality, but before the end of the year, all news suggests that the price of Bitcoin will at least be close to 120k.
