[CRYPTO] Don't Expect Much From Bitcoin This Summer

20 mai 2022

Hello everyone,

i'm here with another update for BTCUSD. In this idea, we're looking at the mid-term trend.
While the market always has a primary direction, we're looking for secondary trend-changes to adjust our strategy.
In this case we have found the bottom at ~26000 USD during the strong sell-off two weeks ago.
The reaction from the market was very strong and it seems like we've found some buyers here.

The price is currently hovering around the 30000 USD level, which also acts as a major psycological support.
There are two sides to consider: BTCUSD finding it's bottom at a higher lows from a historical perspective -
on the other hand we will see a strong reaction from the market participants once we broke this support and aim for a lower low.
So this is definitely a major zone that we have to observe.

According to this idea, i'm expecting the price to move within a range during the summer, which is formed by the current support
and the next resistance. I don't expect much volume to join the market and i'm also expecting the volatility to slow down in general.
We need to geopolitcial situation, the inflation and some other conflicts fixed first before making any new highs.
Until then, we're looking for good entries to increase our long position.

If you like this idea, please let me know by commenting or liking. Feel free to share your own idea in the comments as well. Also, check out the stuff below ⤵️