Chart of the Day - Wednesday, May 11th, 2022
May 11, 2022
Today’s Chart of the Day was shared by David Rath (@DJwrath). It's a daily candlestick chart of Bitcoin over the past two years. All eyes were on the Crypto markets today as one of the largest coins, $LUNA, crashed 95% overnight. David points out that the largest cryptocurrency, Bitcoin, is barely hanging on to crucial support around $29k-$30k. As you can see, this level has been tested three times already. If it fails to hold, we could easily see Bitcoin drop another 33% to test the 2017 highs around $19k.