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Crypto Market Analysis 5: Reading the Tea Leaves

  • Oz by Oz
    Oz Oz
    Full on Technical Analysis wizard and financial tech specialist. Demonstrates his TA craft on the podcast and YouTube. Loves Manchester United. Favourite player is Francesco Totti.
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  • June 05, 2023
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  • 4 min read
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Crypto Market Analysis 5: Reading the Tea Leaves
Photo by Wance Paleri / Unsplash
  • Market Analysis

Contents 

Bitcoin Analysis

Bullish Clues

Ethereum Update

This weeks Altocin Pick


Bitcoin Analysis

Bitcoin closed the month above the yearly pivot level of 26.7k which bullish for the year and continuing to hold this level will signal a move up to 36-40k in the coming months. Its best to look at the yearly pivot levels on a monthly basis for long-term direction as price can dip below this level on shorter time-frames.

Looking at the moving averages, using the 128 daily MA is a very good buy the dip strategy in an up-trend. Like I said in my previous update, Bitcoin can still test this moving average a number of times before it starts its next leg up so a dip to 26.2k is not out of the question before the next leg up.

Bullish Clues

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Oz Oz
Full on Technical Analysis wizard and financial tech specialist. Demonstrates his TA craft on the podcast and YouTube. Loves Manchester United. Favourite player is Francesco Totti.
  • X
  • Website
Oz Oz
Full on Technical Analysis wizard and financial tech specialist. Demonstrates his TA craft on the podcast and YouTube. Loves Manchester United. Favourite player is Francesco Totti.
  • X
  • Website
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