Cryptocurrency has gained some traction in the last decade. Prices of cryptos, especially Bitcoin (BTC), have gone through many ups and downs over this period. The BTC, for instance, had seen a sharp drop to $25,800 on May 13 after starting the week's Wall Street trading session on a weaker note. This dip, combined with some other downscaling factors, resulted in two-month lows for BTC prices.

Analysts, however, were quick to turn the tides and began a push for BTC and other cryptos to move back in the green from the red. Daan Crypto Trades, while attempting to show optimism and confidence, stated that $26,500 is the line that must not be breached and it has to hold in order to see some sort of growth and progress when it came to the world of crypto trading.

Cointelegraph MarketsPro and TradingView showed improved performance of Bitcoin as it started to recover from its initial dip. Michaël van de Poppe, founder of trading firm Eight, echoed similar sentiment by highlighting the importance of the daily close and its key role in driving the market further towards the intended target and goals. Crypto Tony, on the other hand, noted that liquidity was still an issue and it must be taken into account while making decisions with regard to crypto trading.

Material Indicators, however, have highlighted the lack of bid liquidity and have pointed out the reduced whale interest as one of the key factors in the red. It should be noted that whales can be really powerful when it comes to their impact on the crypto trading world because of the huge amount of resources they have. Despite all that, though, the 200-week moving averages still remain the line in the sand when it comes to making bullish decisions and establishing the trend in the long-term.



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