Starting out on the monthly, we can see that Bitcoin grew in value by nearly 25% in the month of May. This is always a nice thing to see. However, since the March 12 dump, it's nothing for long term hodlers to get excited about just yet. Nevertheless, as the one-month candle is due to open above the 0.382 fib retracement level, a move up toward the 0.618 of $13,700 is something to be excited about. With that being said, let's not get ahead of ourselves. We first need to claim $11,800, and one cannot ignore that a move to the downside is always a possibility for the king of cryptos also.