May 11th 2021, Crypto Chartbook: The social value of Bitcoin

BTC-USD, Monthly Chart, No bear claw yet:

Bitcoin in US Dollar, monthly chart as of May 10th, 2021.

BTC-USD, Weekly Chart, Another angle confirms:

Bitcoin in US Dollar, weekly chart as of May 10th, 2021.

BTC-USD, Weekly Chart, The social value of Bitcoin:

Bitcoin in US Dollar, weekly chart as of May 10th, 2021.
  • Swiftness and size of the recovery from the temporary dip (red and green line). The Bounce made it back above the 0.618 Fibonacci retracement levels and prices are still trading between 0.5 and o.618.
  • Holding extended levels of the standard deviation of considerable time (dotted lines with the mean near US$31,900)
  • Prices trading within a significant support of a supply zone based on volume transaction analysis (yellow box)

The social value of Bitcoin:

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