As we enter Summer Bitcoin is once again in the Southern hemisphere and the middle of Winter opposite America and Europe. For as harsh and frigid as the temperature in the crypto space has been and is forecasted to be, Bitcoin is showing resilience by forming a base right where it did last Summer.

With the price of Bitcoin now hovering above $30,000 once again the coin that gave birth to a revolution is showing its staying power and ability to weather bear markets better than most cryptos out there.

Bitcoin re-affirms range

Bitcoin is now forming its ninth red weekly candle, having broken through key support levels of $44k last month and $37,500 in May, declining by $15,000 the last two months.

Last year May 19th was a terrible day for a Bitcoin bull like myself. I remember it well because that date is my birthday. I didn’t get what I wished for that year, but this year a continuation of the massive sell-off in the market is exactly what I am hoping for.