Bitcoin (BTC) is 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 recent weekly closes, the May 29 candle managed to limit the downside and reverse course immediately as the new week began.
Nonetheless, Bitcoin has now sealed nine red weekly candles in a row, something never seen before in its history.
Just how bearish…
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