Crypto starts week Positive, Bitcoin Bulls Prep For A Breakout

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Crypto starts week Positive, Bitcoin Bulls Prep For A Breakout

On Monday, the cryptocurrency and Bitcoin market turned positive, attempting to break out of its current downturn, with market capitalization rising 1.5% to $1.37 trillion. The largest cryptocurrency, Bitcoin , reached $30,554, up 1.2%.

Bitcoin Price Sheds Gains

Bitcoin price’s downhill movement is becoming increasingly apparent. A rally towards $33,700 is possible.

Takmer dva týždne, Bitcoin price Fear and Greed indicator has been at high fear levels. Because more investors are afraid to invest in the present BTC price, this Index can be utilized as a contrarian positive indicator, allowing smart money to accumulate huge orders.

Na 6-hodinovom grafe sa to, čo sa predtým považovalo za mätúci bočný trh, teraz stáča do veľmi býčieho vzoru, čo naznačuje zapojenie inteligentných peňazí.

Cena bitcoin is creating a sideways triangle. From an Elliott wave standpoint, the lengthy sideways action justifies a wave B pattern. Since the initial countertrend rally on May 13th around $31,200, it has spent disproportionate time in the $30,000 zone. If the technicals hold, another countertrend profit-taking rise with targets of $33,700 and $34,000 will occur before significant bearish resistance returns.

Prelomenie pod vlnou A na 28,630 23,500 USD ruší býčí predpoklad. Ak sa medveďom podarí prelomiť túto bariéru, ďalším cieľom môže byť 20 XNUMX dolárov, čo je XNUMX% pokles oproti súčasnej cene BTC.

Makroekonomické podmienky Spojených štátov napomohli vzostupu krypto trhov 23. mája. Prezident Joe Biden oznámil zámer znížiť obchodné clá s Čínou pred otvorením trhu, čím sa posilnila dôvera investorov.

Related Reading | Eight Consecutive Red Closes: Is Bitcoin Headed For A Recovery?

Zásoby baníkov hore-dole

Bitcoin’s network difficulty is expected to decrease by 3.3 percent during its next automated readjustment this week, according to the latest projections. The drop will be the biggest since July 2021, and it’s apparent that Bitcoin’s slump has put miners’ profits in jeopardy.

Napriek tomu, že pohyby ich peňaženiek na burzy dosiahli 30. mája 23-dňové minimum, podľa on-chain monitorovacej platformy Glassnode, baníci nevykazujú náznaky kapitulácie.

At the start of a new trading week, bitcoin miner stocks were up and down in equal measure.

Related Reading | Long Liquidations Continue To Rock Market As Bitcoin Zápasy o vyrovnanie nad 30,000 XNUMX dolárov

Odporúčaný obrázok z Unsplash, graf z TradingView.com

Originálny zdroj: NewsBTC