Market overview
Bitcoin (BTC): $68,501.60 (-0.92%)
Bitcoin Dominance: 53.94%
Fear and Greed Index: 74 (greed)
WHAT HAPPENED?
Last week, for bitcoin, we reached the main targets in the range of $71,000-$72,000 and received a reaction from the sell area. We're currently trading lower, but still within the long-term scenario.
WHAT WILL HAPPEN: OR NOT?
We expect moving to the nearest buyer's zone and, if there is a reaction, resumption of buys at least to a new sell zone of $71,000-$71,400 (volume anomalies). Otherwise, we expect a deeper correction.
Buy zones: $68,000-67,300 (volume zone), $64,500-$62,700 (pushing volumes), $61,200-$60,400 (volume zone), $58,500-$57,000 (volume anomalies).
IMPORTANT DATES
The week will be rich in macroeconomic events:
• Tuesday, May 28, 14:00 (UTC) — publication of the US Consumer Confidence Index;
• Wednesday, May 29, 12:00 (UTC) — publication of the German consumer price index for May;
• Thursday, May 30, 15:30 12:30 (UTC) — report on US GDP for the first quarter of 2024, as well as on the number of initial applications for unemployment benefits;
• Friday, May 31, 12:30 (UTC) — publication of the US personal Consumption Expenditure index for 2023 and April 2024.
*This post is not a financial recommendation. Make decisions based on your own experience.
Bitcoin Dominance: 53.94%
Fear and Greed Index: 74 (greed)
WHAT HAPPENED?
Last week, for bitcoin, we reached the main targets in the range of $71,000-$72,000 and received a reaction from the sell area. We're currently trading lower, but still within the long-term scenario.
WHAT WILL HAPPEN: OR NOT?
We expect moving to the nearest buyer's zone and, if there is a reaction, resumption of buys at least to a new sell zone of $71,000-$71,400 (volume anomalies). Otherwise, we expect a deeper correction.
Buy zones: $68,000-67,300 (volume zone), $64,500-$62,700 (pushing volumes), $61,200-$60,400 (volume zone), $58,500-$57,000 (volume anomalies).
IMPORTANT DATES
The week will be rich in macroeconomic events:
• Tuesday, May 28, 14:00 (UTC) — publication of the US Consumer Confidence Index;
• Wednesday, May 29, 12:00 (UTC) — publication of the German consumer price index for May;
• Thursday, May 30, 15:30 12:30 (UTC) — report on US GDP for the first quarter of 2024, as well as on the number of initial applications for unemployment benefits;
• Friday, May 31, 12:30 (UTC) — publication of the US personal Consumption Expenditure index for 2023 and April 2024.
*This post is not a financial recommendation. Make decisions based on your own experience.
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