Bitcoin Upside Fades, Lower Support at $34K
BTC faces slowing momentum as buyers struggle at resistance.
BTC buyers struggled near $40K resistance this week. Upside appears to be limited.
Bitcoin is under pressure as Fed taper concerns linger, although some expect crypto to remain resilient.
Bitcoin’s ‘death cross’ could increase selling pressure into the weekend.
Upside momentum has been weak, which means the corrective phase from May is not yet complete.
The U.S. central bank also increased estimates of coming inflation to 3% from the 2.2% projection in March, largely due to transitory factors.