Bitcoin Price Update and Inflation Data

I am sharing this brief analysis of Bitcoin price action following my last post, incase it might help the community make some profitable trades. Please support with your upvotes, resteems and comment replies. It keeps me motivated.

🔶 Bitcoin price still fails to indicate any form of strength. The price is currently on a slow decline after a small rebounding from the price of $17,500 and it is working as a key resistance.

🔶 If the Bitcoin price breaks this resistance to the downside we can see the price will first touch $16,500 where 300 W.M.A. is also laying.

🔶 According to recent data, inflation in Europe is expected to hit a new high in June ( obviously because of energy shortage ) and this is sparking fears of a new sovereign debt crisis.