BTC WILL BOUNCE ON JUNE ?
We are on a simetric triangle that could be bullish or bearish, I'm bullish since we have higher lows.
- We don't have much volume since the CME Globex Trading Schedule is on Holidays for Memorial Day (28 May - 1 June 2021)
- The action price looks clever, the miners keeps holding.
- Project Jasper is developing a new way of payments allowing works with bitcoin.
- Investors and institutions started to invest in BTC.
- Could be the end of wyckoff.
- ADX is bullish/range since not have force enouth
- Weekly RSI : 44
- Daily RSI : 32
Conditionals:
- Hold the 30k -33k triangle.
- Hold the 30k support.
Bearish scenario.
- Current behavior from Long-Term Holders and Short-Term Holders only resembles two other times: 2018 bear market & 2013 consolidation between double pumps
- If we lose 30k - 29k Support we could reach 20k - 19k and then bounce.
Things to consider:
- Montly candle is the key for the possible scenario.
- The volume will start 2 - 3 June.
- Big meeting of BTC : Bitcoin Conference 2021 (4 - 5 June)
- Goldman Sachs changed opinion about BTC.
- Chinesse Mining Enterprises are considering move to EU and USA mostly, which is not great for the crypto but maybe for the price because big institutions
will get more confident since the goberments start to dig and tax the mining and have better control of exchanges.
- We don't have much volume since the CME Globex Trading Schedule is on Holidays for Memorial Day (28 May - 1 June 2021)
- The action price looks clever, the miners keeps holding.
- Project Jasper is developing a new way of payments allowing works with bitcoin.
- Investors and institutions started to invest in BTC.
- Could be the end of wyckoff.
- ADX is bullish/range since not have force enouth
- Weekly RSI : 44
- Daily RSI : 32
Conditionals:
- Hold the 30k -33k triangle.
- Hold the 30k support.
Bearish scenario.
- Current behavior from Long-Term Holders and Short-Term Holders only resembles two other times: 2018 bear market & 2013 consolidation between double pumps
- If we lose 30k - 29k Support we could reach 20k - 19k and then bounce.
Things to consider:
- Montly candle is the key for the possible scenario.
- The volume will start 2 - 3 June.
- Big meeting of BTC : Bitcoin Conference 2021 (4 - 5 June)
- Goldman Sachs changed opinion about BTC.
- Chinesse Mining Enterprises are considering move to EU and USA mostly, which is not great for the crypto but maybe for the price because big institutions
will get more confident since the goberments start to dig and tax the mining and have better control of exchanges.
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