Bitcoin Rebounds from 2-Month Low, Eyes New All-Time High

Bitcoin (BTC) briefly dipped to $25,800 on Bitstamp before rebounding and seeking to pass $27,000 on May 13. Traders are split over the likely course of events to come, with some stating that BTC price must retain $26,500, while others suggest that the potential long flip level is higher at $27,300. However, monitoring resource Material Indicators remains far from optimistic, with a lack of bid liquidity forming a major point of concern and the largest cohorts of whales abstaining from the market. The 200-week moving average remains a key line in the sand when it comes to the bullish thesis going forward.