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Bitcoin Gains at 6.3% ready for $32.8k

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Market data has shown the largest cryptocurrency, Bitcoin BTC, consolidating near $30,600.It has undergone its best performance since May 16th. 

Analyst Rekt capital had this to say in a tweet, “#BTC is enjoying a rebound from the very bottom of the Macro Range Low, after holding it as support for the past few weeks.”

Some are skeptical that this consolidation will have much effect, as TXMC Trades highlighted the area around the May 29th close as critical support to hold. “Still just range bound despite the quickness of the pump. LTF double top at resistance. Will #BTC break out of a well defined consolidation on a market holiday in the US without a catalyst? My base case is no, but I’ve been wrong before.”

Doubts are circulating around the forward momentum, Will this consolidation hold?

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