Market overview
Bitcoin (BTC): $68,875.16 (+1.74%)
Bitcoin Dominance: 54.38%
Fear and greed Index: 73 (greed)
WHAT HAPPENED?
Last week, we didn't get a clear positioning on bitcoin and continued trading within the range of $66,300-$72,000.
At the moment, we have traded a volume base of $68,200-$67,200, above which we're trying to gain a foothold.
WHAT WILL HAPPEN: OR NOT?
Now, the priority is to expect a local correction from the level of ~$69,300 (volume cluster) to the above-mentioned zone and the resumption of purchases.
Globally, we're still waiting for the ATH test.
Sell zones: $70,000-$70,400 (local volume zone), $71,000-$71,400 (volume anomalies).
Buy zones: $68,200-$67,200 (accumulated volume), $64,500-$62,700 (pushing volumes), $61,200-$60,400 (volume zone) $58,500-$57,000 (volume anomalies).
IMPORTANT DATES
Many important macroeconomic events are expected this week:
• Monday, June 3, 13:45-14:00 (UTC) — publication of the index of business activity in the US manufacturing sector for May;
• Tuesday, June 4, 14:00 (UTC) — publication of data on the number of open vacancies in the JOLTS labor market for April;
• Wednesday, June 5, 12:15-14:00 (UTC) — publication of several US business activity reports;
• Wednesday, June 5, 13:45 (UTC) — decision on the Canadian interest rate (expected to increase by 0.25%);
• Thursday, June 6, 12:15 (UTC) — decision on the deposit rate and the interest rate in the eurozone;
• Friday, June 7, 12:30 (UTC) — publication of data on average hourly wages, unemployment rate and changes in the number of people employed in the non-agricultural sector in the United States.
*This post is not financial recommendation. Make decisions based on your own experience.
Bitcoin Dominance: 54.38%
Fear and greed Index: 73 (greed)
WHAT HAPPENED?
Last week, we didn't get a clear positioning on bitcoin and continued trading within the range of $66,300-$72,000.
At the moment, we have traded a volume base of $68,200-$67,200, above which we're trying to gain a foothold.
WHAT WILL HAPPEN: OR NOT?
Now, the priority is to expect a local correction from the level of ~$69,300 (volume cluster) to the above-mentioned zone and the resumption of purchases.
Globally, we're still waiting for the ATH test.
Sell zones: $70,000-$70,400 (local volume zone), $71,000-$71,400 (volume anomalies).
Buy zones: $68,200-$67,200 (accumulated volume), $64,500-$62,700 (pushing volumes), $61,200-$60,400 (volume zone) $58,500-$57,000 (volume anomalies).
IMPORTANT DATES
Many important macroeconomic events are expected this week:
• Monday, June 3, 13:45-14:00 (UTC) — publication of the index of business activity in the US manufacturing sector for May;
• Tuesday, June 4, 14:00 (UTC) — publication of data on the number of open vacancies in the JOLTS labor market for April;
• Wednesday, June 5, 12:15-14:00 (UTC) — publication of several US business activity reports;
• Wednesday, June 5, 13:45 (UTC) — decision on the Canadian interest rate (expected to increase by 0.25%);
• Thursday, June 6, 12:15 (UTC) — decision on the deposit rate and the interest rate in the eurozone;
• Friday, June 7, 12:30 (UTC) — publication of data on average hourly wages, unemployment rate and changes in the number of people employed in the non-agricultural sector in the United States.
*This post is not financial recommendation. Make decisions based on your own experience.
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