Crypto Analyst: Bitcoin May Monthly Candle Close Confirms Bull Market or Accumulation8.8

As Bitcoin price nears closer to important resistance at $6,000, it’s clear that the leading cryptocurrency by market cap is at an inflection point, and where it goes next could set the tone for the following months to years.

An early April rally made the month an easy green close for Bitcoin, as the price of the crypto asset rose over $1,000 in the matter of an hour, breaking through resistance and kickstarting a bullish rally. Bulls rejoiced over April’s close, the third consecutive green monthly close in a row. How Bitcoin closes in May, according to one crypto analyst, will determine if the cryptocurrency is locked in an accumulation phase or if a full-blown bull market is back.

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