Bitcoin's Downtrend Appears Weak, Here's Why!

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Bitcoin Volatility and volume are both falling, which could indicate a coming reversal. Considering Volatility as one of the indicators the BTC is expected to fall dramatically in June in comparison to May or April.

Amidst, November and April, when Bitcoin was being pushed down by bears, it had no support. The 50-week moving average was supposed to bounce, but BTC's buying volume was nowhere near it.

Bitcoin has been oversold, according to indicators. When we consider the declining volatility and volume, we can see that bears no longer have the same selling pressure on Bitcoin, and even minor bullish support might send the cryptocurrency back above $40,000 and ignite a reverse rally.