The price of Bitcoin has slightly declined as expected yesterday, and its movement has slowed down.
If it were up to me, I would not invest until June 30th. From now on, the only movements left are likely to be for consolidation.
The price is moving weakly below the moving average, and if I were forced to predict the next 24 hours, I would say there’s a slight possibility of a small increase.
However, now is not the time to invest, but rather to take a break. Given the uncertainty of the current situation, it’s better to refrain from investing and just observe the graph to understand what forces are at play. Investing in July will not be too late.
Prediction: Neutral to Slight Bullish Probability: 60%
Moving Averages: The chart shows the MA Cross (9 and 26), with the 9-period MA slightly above the 26-period MA. This is a weak bullish signal indicating a possible short-term upward movement.
Volume Analysis: The recent increase in volume suggests renewed buying interest, which could support a slight price rise.
Support Levels: The price is hovering near the 60,800 level, a previous support zone. This could act as a base for a rebound.
Prediction: Bearish Probability: 70%
Overall Trend: The overall trend in the chart is downward, with lower highs and lower lows indicating a bearish market.
Resistance Levels: The price has consistently failed to break above the 61,000-62,000 range, showing strong resistance.
Market Sentiment: The general sentiment appears to be bearish, with more sellers than buyers at higher price levels.
Market Sentiment: Current market sentiment is mixed to bearish. A significant shift in sentiment or external factors (e.g., regulatory news or macroeconomic changes) could influence this.
Support and Resistance Levels: Watch the 60,000 support and 62,000 resistance levels closely. A break below or above these levels could signal a stronger move in that direction.