Fundamental approach
- The US Senate has cleared the GENIUS Act, its long-awaited stablecoin framework, after marathon talks. A final vote is expected after the Memorial Day break (26 May).
- JPMorgan Chase CEO Dimon says the bank will soon allow clients to trade bitcoin through third-party custody, adding fresh tailwinds to institutional demand.
- Spot-bitcoin ETFs are on track for a sixth straight week of net inflows, reinforcing the bid beneath prices.
Technical approach:
- Price is probing resistance at 106200 within a well-defined rising channel. The widening spread between both EMAs underscores building bullish momentum.
- A decisive close above 107000 opens the door to 113000.
- On the contrary, a drop through the support at 101400 would lead to a deeper correction to around the following support at 93000.
Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness
- The US Senate has cleared the GENIUS Act, its long-awaited stablecoin framework, after marathon talks. A final vote is expected after the Memorial Day break (26 May).
- JPMorgan Chase CEO Dimon says the bank will soon allow clients to trade bitcoin through third-party custody, adding fresh tailwinds to institutional demand.
- Spot-bitcoin ETFs are on track for a sixth straight week of net inflows, reinforcing the bid beneath prices.
Technical approach:
- Price is probing resistance at 106200 within a well-defined rising channel. The widening spread between both EMAs underscores building bullish momentum.
- A decisive close above 107000 opens the door to 113000.
- On the contrary, a drop through the support at 101400 would lead to a deeper correction to around the following support at 93000.
Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness
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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.
I’ve taken a break from my public community engagements to focus on raising my three kids, but I'm rediscovering my passion for working again. Stay connected, as I plan to return and rejoin my old communities with a lot of new skills one day soon.
Related publications
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.