BITCOIN IS STILL LOOKING BULLISH
But could face some challenges to break 8400, which will delay the parabilc move. Profits taking a panic selling could lead to some retracement down to 6500.
The volume is increadible so far. The current btc trading volume on binance is above 560K. last month (april) total volume was 1.12M. So we are still in pace of matching or beating April's volume.
April 2019 volume's was the biggest volume in binance since February 2018, 1.2M. But that time we started a serious down trend to low 3k. But this time it could be the opposite, getting some higher highs.
If we break below 6500 before the end of the current month (May), it could trigger some serious potential downward momentum.
Btc needs to stay above 7500 at least until June to create some addition momentum at the beginning of the month.
So a strong price rejection could be anticipated.
But seing low 25** is not optional at this time, even low 4ks.
Alt have now participated in the rally yet as they should.
We could expect a 400-420B total marketcap this summer, if market wants to continue the uptrend for the rest of year up to 650B
But could face some challenges to break 8400, which will delay the parabilc move. Profits taking a panic selling could lead to some retracement down to 6500.
The volume is increadible so far. The current btc trading volume on binance is above 560K. last month (april) total volume was 1.12M. So we are still in pace of matching or beating April's volume.
April 2019 volume's was the biggest volume in binance since February 2018, 1.2M. But that time we started a serious down trend to low 3k. But this time it could be the opposite, getting some higher highs.
If we break below 6500 before the end of the current month (May), it could trigger some serious potential downward momentum.
Btc needs to stay above 7500 at least until June to create some addition momentum at the beginning of the month.
So a strong price rejection could be anticipated.
But seing low 25** is not optional at this time, even low 4ks.
Alt have now participated in the rally yet as they should.
We could expect a 400-420B total marketcap this summer, if market wants to continue the uptrend for the rest of year up to 650B
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BITCOIN CORRECTION CONTINUATION
