Will Altcoin Profits Flow Into Bitcoin? (May 6 Forecast)

Bitcoin rallied on Wednesday, breaking a bearish two-day streak and rallying up to $58K before closing the daily candle around $57K. This is a bullish reaction and very much needed as BTC needed to find support at the 50 Day EMA else face jeopardizing the short-term uptrend.

(May 5, 2021 8:30PM EST)

Short-Term: