Today's BTC Briefing. carefully watch this current neckline.
Both Short-term(green triangle) and midterm(blue lines) descending wedges are broken. Very positive signal for coming bullish trend.With the BTC rising, alts are also showing upward trend. Worrying situation of moving below 7.8k line is almost resolved, and that mid-tern declining trend seems to end after touch 7.9k with upward rally.
BTC showed inverse H&S patterns, and now it seems to be supported well above the neckline. Also, the trade volume increased a little bit, provides positive signal as well. So we should carefully look at current point to decide whether the 4 hr candle will end above that line.
For those whom didn't buy BTC below 8.2k, 8.47k is new entry point. And we set the short-term price targets of BTC at 8650, 8900 and then following the trend.
One bad thing is market capitalization. Current market cap is still below USD 400B(398B now), and trade volume is also not enough. If market cap breaks through 400B, it will be very nice signal for bullish market.
Many investors may feel that this May is bear market. But we think that bearish trend is going to be stabilizing. So from the end of May to the beginning of the June, bullish trend will appear. Also, we expect that BTC price will reach USD 9900(previous highest point on May) around time too.
We hope and believe that crypto market of June will be very active and optimistic.
For more and real time analysis, I recommend the following channel.
t.me/phcapital_crypto
BTC showed inverse H&S patterns, and now it seems to be supported well above the neckline. Also, the trade volume increased a little bit, provides positive signal as well. So we should carefully look at current point to decide whether the 4 hr candle will end above that line.
For those whom didn't buy BTC below 8.2k, 8.47k is new entry point. And we set the short-term price targets of BTC at 8650, 8900 and then following the trend.
One bad thing is market capitalization. Current market cap is still below USD 400B(398B now), and trade volume is also not enough. If market cap breaks through 400B, it will be very nice signal for bullish market.
Many investors may feel that this May is bear market. But we think that bearish trend is going to be stabilizing. So from the end of May to the beginning of the June, bullish trend will appear. Also, we expect that BTC price will reach USD 9900(previous highest point on May) around time too.
We hope and believe that crypto market of June will be very active and optimistic.
For more and real time analysis, I recommend the following channel.
t.me/phcapital_crypto
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