Wild Weekend for Bitcoin Price? US Lockdown Eases on Memorial Day

Since dropping below the ascending channel trendline to $8,815 on May 21, Bitcoin (BTC) has seen a recovery of 4.78%. However, it continues to face resistance at the 20-day moving average, which is hindering traders’ efforts to push the price above $9,300.

The weekly price chart for the cryptocurrency market illustrates this trend.