IMPORTANT DISCLAIMER

BTC/USD 01.06.2017

BTC/USD Chart

Since the last review, the whole crypto market has been swept by correction. BTC price has plummeted from $2,700 to $1,700 in just one day.

Currently, we see a market restoration and trading at around $2,200.

Huge and fast growth is impossible without any correction since many market players prefer to fix their incomes.

Also due to the correction, a strong global support zone has become visible.

BTC/USD is showing really good levels.

  • Global support level is around $1,800. It is a very strong level and if volatility remains - this zone is an excellent opportunity for nice looking buys.
  • Supposed resistance zones are placed at levels $2,300, $2,500, $2,700. Most likely the zone between $2,300 and $2,500 will turn out very strong and without great fundamental news, bulls will have a tough time hitting that level.
  • Based on the fundamental news, we can assume that the coming month will likely show a decrease in volatility and accumulation of charge before the SegWit battle in August. Despite the signed agreements, unexpected scenarios are likely enough.

Only a single idea for now, buys around $1,800 to $1,900, with $2,300 goals.

Despite obvious signals, it is not recommended to short, since it is trading against the trend.

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