Bitcoin Market Analysis: Recovery After Crash

Azeez Mustapha



Select a Plan


 1-month subscription



 3-month subscription



 6-month subscription



 lifetime subscription



 Separate Swing Trading Group



Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored


Service for copy trading. Our Algo automatically opens and closes trades.


The L2T Algo provides highly profitable signals with minimal risk.


24/7 cryptocurrency trading. While you sleep, we trade.


10 minute setup with substantial advantages. The manual is provided with the purchase.


79% Success rate. Our outcomes will excite you.


Up to 70 trades per month. There are more than 5 pairs available.


Monthly subscriptions begin at £58.

Bitcoin (BTC) and the rest of the cryptocurrency market underwent an extremely volatile session over the past 24 hours. The benchmark cryptocurrency slumped to its lowest level since January at $30k and rebounded by about $10k over the hours.

Bitcoin suffered terribly following negative announcements from Tesla and China. The recent slump is said to be one of the worst declines in the history of cryptocurrency. At press time, BTC trades at $39,950, 38.5% away from its $65k all-time high.

Reports show that total market liquidation ran up to $8 billion over the past 24 hours. Furthermore, some reports argue that over-leveraged positions are to blame for this drop.

Despite the sharp recovery, CryptoQuant CEO Ki-Young Ju asserts that more declines are yet to come in the short term. The chief noted that the “whale dumping indicator hit a year-high since the March great sell-off last year,” as large addresses made significant deposits on exchanges.

On a brighter note, Bitcoin recovered some grounds in terms of market dominance, which has jumped back to 43%. Earlier this week, this metric dropped to 38%, a three-year low.

Meanwhile, other cryptocurrencies suffered a similar fate with Bitcoin yesterday, with Ethereum and Binance Coin reaching multi-week lows at $1,850 and $230, respectively.

Key Bitcoin Levels to Watch — May 20

Following yesterday’s erratic session, BTC appears to have regained some stability and a bullish undertone. The primary cryptocurrency is trading along a descending channel, highlighting the overt bearish trend.

BTCUSD – Hourly Chart

That said, the cryptocurrency is facing a critical hurdle at the $41k level, as a confluence of indicators (comprising the 50 SMA, channel top, and resistance line) stands at that level. A break above this level could negate the current bear run and as bullish activities would increase.

However, failure to clear this level could send the primary cryptocurrency to the $37,500 support over the coming hours.

Meanwhile, our resistance levels are at $46,000, $46,500, and $47,000, and our key support levels are at $45,000, $44,000, and $43,000.

Total Market Capitalization: $1.73 trillion

Bitcoin Market Capitalization: $739 billion

Bitcoin Dominance: 43%

Market Rank: #1


You can purchase crypto coins here: Buy Coins

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *