{"id":454977,"date":"2022-05-30T11:30:59","date_gmt":"2022-05-30T08:30:59","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/mega-bullish-signal-or-real-breakdown-5-things-to-know-in-bitcoin-this-week\/"},"modified":"2022-05-30T11:30:59","modified_gmt":"2022-05-30T08:30:59","slug":"mega-bullish-signal-or-real-breakdown-5-things-to-know-in-bitcoin-this-week","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/mega-bullish-signal-or-real-breakdown-5-things-to-know-in-bitcoin-this-week\/","title":{"rendered":"# \u2018Mega bullish signal\u2019 or \u2018real breakdown?\u2019 5 things to know in Bitcoin this week"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3ed7606def8\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3ed7606def8\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/mega-bullish-signal-or-real-breakdown-5-things-to-know-in-bitcoin-this-week\/#%E2%80%9D_%E2%80%98Mega_bullish_signal_or_%E2%80%98real_breakdown_5_things_to_know_in_Bitcoin_this_week_%E2%80%9C\" >&#8221; \u2018Mega bullish signal\u2019 or \u2018real breakdown?\u2019 5 things to know in Bitcoin this week &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/mega-bullish-signal-or-real-breakdown-5-things-to-know-in-bitcoin-this-week\/#Can_Bitcoin_avoid_10_weeks_of_red\" >Can Bitcoin avoid 10 weeks of red?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/mega-bullish-signal-or-real-breakdown-5-things-to-know-in-bitcoin-this-week\/#Analyst_Stocks_rebound_is_%E2%80%9Cbear_market_rally%E2%80%9D\" >Analyst: Stocks rebound is \u201cbear market rally\u201d<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/mega-bullish-signal-or-real-breakdown-5-things-to-know-in-bitcoin-this-week\/#Dollar_strength_tags_one-month_lows\" >Dollar strength tags one-month lows<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/mega-bullish-signal-or-real-breakdown-5-things-to-know-in-bitcoin-this-week\/#Bitcoin_nearing_a_%E2%80%9Ccyclic_bottom%E2%80%9D\" >Bitcoin nearing a \u201ccyclic bottom\u201d<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/buradabiliyorum.com\/en\/mega-bullish-signal-or-real-breakdown-5-things-to-know-in-bitcoin-this-week\/#Sentiment_hints_at_%E2%80%9Clong_term_buying_opportunity%E2%80%9D\" >Sentiment hints at \u201clong term buying opportunity\u201d<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_%E2%80%98Mega_bullish_signal_or_%E2%80%98real_breakdown_5_things_to_know_in_Bitcoin_this_week_%E2%80%9C\"><\/span>&#8221; \u2018Mega bullish signal\u2019 or \u2018real breakdown?\u2019 5 things to know in Bitcoin this week &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Bitcoin (BTC)\u00a0is bouncing back this week as a sudden surge challenges weekly highs.<\/p>\n<p>In what should provide some desperately needed confidence to bulls, BTC\/USD is back at weekly highs on May 30, gaining several percent overnight.<\/p>\n<p>In contrast to recent weekly closes, the May 29 candle managed to limit the downside and reverse course im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely as the new week began.<\/p>\n<p>Nonetheless, Bitcoin has now sealed nine red weekly candles in a row, something never seen before in its history.<\/p>\n<p>Just how bearish is the largest cryptocurrency going into June? The macroenvironment remains troubled, while retail interest is nowhere to be seen and calls for a deeper capitulation remain. <\/p>\n<p>That said, should it continue its latest strength, Bitcoin still stands a chance of breaking out of its current trading corridor. <\/p>\n<p>Cointelegraph takes a look at the factors primed to move the market in the coming days. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Can_Bitcoin_avoid_10_weeks_of_red\"><\/span>Can Bitcoin avoid 10 weeks of red?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Thanks to an unexpected but welcome U-turn overnight into May 30, Bitcoin is breaking with tradition this week.<\/p>\n<p>Asian trading provided the backdrop to some solid gains, with both Japan\u2019s Nikkei and Hong Kong\u2019s Hang Seng index up over 2% at the time of writing. The trigger came from <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> that China is planning to relax some of its latest COVID-19 restrictions and open up the economy.<\/p>\n<p>Bitcoin, nonetheless, outperformed equities prior to European trading getting underway.<\/p>\n<p>After an initial red hourly candle following the weekly close, BTC\/USD abruptly rose from $29,300 to current levels nearing $30,700, data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">TradingView<\/a>\u00a0shows.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/0910ecb2-c0c6-46e3-a110-3cb265483d57.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-week candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<p>While caution remains thanks to the weekly close still being red, Bitcoin could end its nine-week losing streak this week as long as next week\u2019s closing price is at least $29,500.<\/p>\n<p>For some, the overnight action alone has been enough to get noticeably more positive on the near-term outlook.<\/p>\n<p>\u201cBitcoin on the verge of a mega bullish signal,\u201d Jordan Lindsey, founder of JCL Capital,<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/jclcapital\/status\/1531055491631050753\">told<\/a> Twitter followers:<\/p>\n<blockquote><p>\u201cIMO not a time to be greedy looking for bottom ticks.\u201d <\/p><\/blockquote>\n<p>Trader Crypto Tony noted that Bitcoin is still in a familiar trading range and should clear some key levels before being considered to have a firm trajectory. For him, this is $31,000, now not so far away.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Good morning legends <\/p>\n<p>Nice relief waves to see this morning on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw\">#Altcoins<\/a> .. Remember <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> is still in a range, so we need to clear $31,000 for this relief to continue <\/p>\n<p>Updates to come <\/p>\n<p>\u2014 Crypto Tony (@CryptoTony__) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoTony__\/status\/1531148695345016833?ref_src=twsrc%5Etfw\">May 30, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Others focused on the idea of current gains being just another relief bounce and that Bitcoin should return lower afterward.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">This is why you should be able to change your bias as new data comes in <\/p>\n<p>That really was a fake breakdown and now we see the real one <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/7AXOEffeT0\">pic.twitter.com\/7AXOEffeT0<\/a><\/p>\n<p>\u2014 CryptoBullet (@CryptoBullet1) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoBullet1\/status\/1531163008201904130?ref_src=twsrc%5Etfw\">May 30, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Popular trading account TMV Crypto, meanwhile,\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/tmv_crypto\/status\/1531144579558277122\">flagged<\/a> the overnight lows as key support to hold going forward.<\/p>\n<p>\u201cNot sure if we should be very bullish here on BTC + ETH,\u201d fellow trader and analyst Crypto Ed <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Crypto_Ed_NL\/status\/1531158115487465473\">added<\/a> in a Twitter thread posted on May 30.<\/p>\n<p>He pointed to thin weekend volumes supporting the bounce, suggesting that higher levels did not have the bid interest required to cement themselves as new support yet.<\/p>\n<p>\u201cSaw some on my feed going short, which was understandable when seeing the weakness in the charts,\u201d he continued:<\/p>\n<blockquote><p>\u201cOnce again a great example to be cautious over the weekend. Too often you get played on thin order books hence I prefer to not open new positions over the weekend.\u201d<\/p><\/blockquote>\n<p>A CME futures gap left from May 27 at $29,000, meanwhile, provides a further bearish target.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/8fd61342-806b-407c-842d-8323935db1bf.png\"><figcaption style=\"text-align: center;\"><em>CME Bitcoin futures 1-hour candle chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Analyst_Stocks_rebound_is_%E2%80%9Cbear_market_rally%E2%80%9D\"><\/span>Analyst: Stocks rebound is \u201cbear market rally\u201d<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>With United States markets closed for a public holiday on May 30, it will be up to Europe and Asia to dictate the day\u2019s mood.<\/p>\n<p>And, with the World Economic Forum behind them, crypto hodlers may be able to breathe a small sigh of relief going into the new month, prior to another U.S. Federal Reserve meeting in mid-June.<\/p>\n<p>Asian stocks\u2019 return to form after eight weeks of losses formed the major macro focus on the day. <\/p>\n<p>After failing to take advantage of a similar rally in the U.S. last week, Bitcoin now <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears to be capitalizing on the mood, which commentators nonetheless warn is likely not an indicator of an overall trend reversal.<\/p>\n<p>Monetary tightening from the Fed and other central banks has not only got stock traders down but has ignited talk of a major recession as the price economies pay. <\/p>\n<p>\u201cWe are in the middle of a bear market rally,\u201d Mahjabeen Zaman, head of investment specialists at Citigroup Australia, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-05-29\/stocks-in-asia-to-start-week-firmer-dollar-mixed-markets-wrap\">told<\/a> Bloomberg:<\/p>\n<blockquote><p>\u201cI think the market is going to be trading rangebound trying to figure out how soon is that recession coming or how quickly is inflation going down.\u201d<\/p><\/blockquote>\n<p>The tightening is due to become real this week. June 1 is thought to be when the Fed begins reducing its balance sheet, currently at a record high of $8.9 trillion.<\/p>\n<p>The European Central Bank (ECB) will halt its asset purchases later in the year, it revealed last week.<\/p>\n<p>May 31 will further see consumer price index (CPI) data released for the Eurozone, ahead of similar data for the U.S. on June 10.<\/p>\n<p>\u201cStock Investors watching for signs of stability,\u201d markets commentator Holger Zschaepitz <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Schuldensuehner\/status\/1531015974392156160\">wrote<\/a> on May 28 alongside the CBOE Volatility Index:<\/p>\n<blockquote><p>\u201cWall St\u2019s fear gauge, investors\u2019 sentiment &amp; bond spreads are tracked for clues on where the market might go next. But only one of the 5 sentiment indicators suggests that the worst is over in the markets.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/4ad6bdce-bf7e-4178-9aa6-cfb660186f29.png\"><figcaption style=\"text-align: center;\"><em>CBOE Volatility Index. Source: Holger Zschaepitz\/ Twitter<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Dollar_strength_tags_one-month_lows\"><\/span>Dollar strength tags one-month lows<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Coming to test support levels throughout the past week has been the strength of the U.S. dollar.<\/p>\n<p>After surging to levels not seen since December 2002, the U.S. dollar index (DXY) is finally coming back down to Earth and even challenging its year uptrend.<\/p>\n<p>This may still act as a silver lining for risk assets should the trend continue, as inverse correlation has worked in Bitcoin\u2019s favor in particular in the past.<\/p>\n<p>\u201cThis could just be the start of the bull run of 2022!\u201d an emboldened Crypto Rover <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rovercrc\/status\/1530957296712441861\">argued<\/a>, uploading a comparative chart showing the Bitcoin-DXY inverse correlation and how it played out in past years.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/9ec09311-bba0-4cb1-b667-837f84fa6f62.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin vs. DXY annotated chart. Source: Crypto Rover\/ Twitter<\/em><\/figcaption><\/figure>\n<p>Crypto Ed, however, is not convinced that the good times will be back, courtesy of ongoing dollar weakness.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">DXY: bounced from my green box, but is was a weak bounce. Rejected at S\/R and going down again. <\/p>\n<p>But I see a falling wedge here, don&#8217;t think this will go much deeper. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/1ZEtiDbX1v\">pic.twitter.com\/1ZEtiDbX1v<\/a><\/p>\n<p>\u2014 Ed_NL (@Crypto_Ed_NL) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Crypto_Ed_NL\/status\/1531166931276939265?ref_src=twsrc%5Etfw\">May 30, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>\u201cDXY is printing a reversal pattern, a falling wedge. Another reason for not being too enthusiastic for BTC,\u201d a further tweet <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Crypto_Ed_NL\/status\/1531166289103884289\">added<\/a>.<\/p>\n<p>Nonetheless, at 101.49, DXY was at its lowest since April 25.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/8bebd82c-adab-4422-8b63-2b765afcb039.png\"><figcaption style=\"text-align: center;\"><em>U.S. dollar index (DXY) 1-day candle chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_nearing_a_%E2%80%9Ccyclic_bottom%E2%80%9D\"><\/span>Bitcoin nearing a \u201ccyclic bottom\u201d<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Not everyone is bearish among Bitcoin analysts, and one of them, CryptoQuant CEO Ki Young Ju, has the data to prove why.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1531118953157873665\">Uploading<\/a> the latest readings from Bitcoin\u2019s realized cap distribution, Ki argued that, in fact, BTC\/USD is currently at a similar stage to March 2020.<\/p>\n<p>Realized cap reflects the price at which each Bitcoin last moved, and can be broken down into age bands. <\/p>\n<p>These, in turn, show the proportion of the BTC supply that makes up its realized cap which last moved a certain length of time ago. <\/p>\n<p>Right now, 62% of the realized cap involves unspent transaction outputs (UTXOs) from six months ago or longer.<\/p>\n<p>For Ki, this signifies floor territory for BTC price, as has been the case historically \u2014 and most significantly during the March 2020 COVID-19 crash.<\/p>\n<p>\u201c$BTC is getting close to the cyclic bottom,\u201d he summarized:<\/p>\n<blockquote><p>\u201cNow UTXOs over 6 months old take 62% of the realized cap. In the 2020 March great sell-off, this indicator reached 62% as well.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/69a4be37-4c82-46e1-8b60-54c5ee8668e9.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin realized cap UTXO bands vs. BTC\/USD chart. Source: Ki Young Ju\/ Twitter<\/em><\/figcaption><\/figure>\n<p>CryptoQuant previously reported on UTXO data as it relates to the size of Bitcoin investor holdings, but drew more conservative conclusions. <\/p>\n<p>Last week, it appeared that the largest Bitcoin whales were still distributing their holdings on-chain, while smaller whales could likely be propping up the market and preventing a March 2020-style cascade.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Sentiment_hints_at_%E2%80%9Clong_term_buying_opportunity%E2%80%9D\"><\/span>Sentiment hints at \u201clong term buying opportunity\u201d<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>It takes a lot of bullish price action to shift sentiment into the green in the current environment.<\/p>\n<p><strong><em>Related:\u00a0Top 5 cryptocurrencies to watch this week: BTC, ETH, XTZ, KCS, AAVE<\/em><\/strong><\/p>\n<p>This goes for both Bitcoin and crypto more widely, as investors have endured over six months of what has been practically unchecked downside.<\/p>\n<p>This remains the case this week \u2014 despite the overnight move up, sentiment remains firmly in the \u201cextreme fear\u201d zone across Bitcoin and altcoins.<\/p>\n<p>The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\">Crypto Fear &amp; Greed Index<\/a> is at just 10\/100 as of May 30, a score which has accompanied generational price bottoms in previous years.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/d43c89de-c1a7-4a5f-8bce-1d8a6a4b13ff.png\"><figcaption style=\"text-align: center;\"><em>Crypto Fear &amp; Greed Index (screenshot). Source: Alternative.me<\/em><\/figcaption><\/figure>\n<p>May 2022 has been a particularly harsh period for sentiment, with Fear &amp; Greed hitting just 8\/100 earlier in the month \u2014 a level rarely seen and which last appeared in March 2020.<\/p>\n<p>\u201cFear &amp; Greed Index back down to 10 today,\u201d Philip Swift, creator of on-chain analytics platform LookIntoBitcoin, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/PositiveCrypto\/status\/1531070560460996608\">responded<\/a>:<\/p>\n<blockquote><p>\u201cWe have spent three weeks in Extreme Fear now with just sideways price action. Potential bottom forming?\u201d<\/p><\/blockquote>\n<p>Commentator and analyst Scott Melker, known as the Wolf of All Streets, added that regardless of what might come next, sentiment revealed a \u201clong term buying opportunity.\u201d<\/p>\n<p>\u201cPeople are still becoming more fearful,\u201d part of a Twitter post <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/scottmelker\/status\/1528722124206112769\">read<\/a>.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/mega-bullish-signal-or-real-breakdown-5-things-to-know-in-bitcoin-this-week\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; \u2018Mega bullish signal\u2019 or \u2018real breakdown?\u2019 5 things to know in Bitcoin this week &#8220; Bitcoin (BTC)\u00a0is bouncing back this week as a sudden surge challenges weekly highs. In what should provide some desperately needed confidence to bulls, BTC\/USD is back at weekly highs on May 30, gaining several percent overnight. In contrast to&#8230;<\/p>\n","protected":false},"author":1,"featured_media":454978,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvYmQ0MmViNzYtZDdiMy00ZDI4LTk5NGYtYmMyYWRmMGM4Njk3LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,70550,70551,73785,70359],"class_list":["post-454977","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-federal-reserve","tag-inflation","tag-markets","tag-stocks"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/454977","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=454977"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/454977\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/454978"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=454977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=454977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=454977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}