BTC price dropped by 2.12% in the past day, following news of the spot Ethereum ETF approvals. This surprised traders who were optimistic about new all-time highs following the cryptocurrency's strong rally earlier in the week, gaining 9% to $72,000. The sudden decline saw BTC fall from a high of $71,980 on May 21 to an intra-day low of $66,606 on May 24.This latest move in BTC price I would call a healty pullback / possible fakeout and I expect to see BTC might make a gap up or a climb to as high as 77/78k LVL.
While still keeping my old analysis as a base. (THIS WAS RECENTLY REMOVED BY MODERATORS FOR RESTRICTED CONTENT).
Here is the original numbers from apr 16 analysis.
If price = down from:
Ema 20
Sma 50
=bears will try to push for 60k lvl. If this lvl breaks look for 61.8% Fib r lvl of $54++
If price breaks up from:
MA = $60k - 73k range.
A break + close above 73,777 indicates a resumption of the uptrend to 80k.
Trade active
Price broke structure at 73.777 and we are moving upwards to the 80k.
Next we need to look at the 100k mark. Currently at work on a new analysis. Stay tuned.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.