Uncertainty remains: no clear short-term tendency
Whilst recent events have led BTC price down, the asset remains relatively solid. No indicator reasonably interpreted reveals a continuing bearish tendency. On the contrary, short term indicators are rather encouraging.
The 33k are still fiercely defended. The previous attempt at crossing it down on Wednesday 21 May resulted in a strong comeback that led the price up to 37k. MACD 12-26-9 is slowly stabilizing towards signal, following a pattern that has been going up for several days, to be monitored closely as a new crossing may indicate a reversal. In addition, stochastic points in favour of an oversold asset and stoch20 being recently crossed upward could indicate the beginning of a short term upward tendency.
Therefore, uncertainty remains, especially considering rather low volumes. The last few days have been tough on BTC, but current indicators are not sufficient to announce either the death of the asset or an upcoming comeback. Prudent investors will abstain from making important decisions and will wait until Monday morning, which will be decisive for the near future of BTC.
The 33k are still fiercely defended. The previous attempt at crossing it down on Wednesday 21 May resulted in a strong comeback that led the price up to 37k. MACD 12-26-9 is slowly stabilizing towards signal, following a pattern that has been going up for several days, to be monitored closely as a new crossing may indicate a reversal. In addition, stochastic points in favour of an oversold asset and stoch20 being recently crossed upward could indicate the beginning of a short term upward tendency.
Therefore, uncertainty remains, especially considering rather low volumes. The last few days have been tough on BTC, but current indicators are not sufficient to announce either the death of the asset or an upcoming comeback. Prudent investors will abstain from making important decisions and will wait until Monday morning, which will be decisive for the near future of BTC.
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