Implications and Outlook
1. The relief Coin Rallies in the crypto currency segment went on in earnest yesterday, as Bitcoin continues to lead the trading path higher printing its very best daily overall performance ever since the month of April. The most valuable crypto coin stole the show, while the entire crypto market took-off higher.
2. Bitcoin charge passed the primary resistance levels of Mean Resistance $6370 and Key Resistance $6765 and is heading towards a Key Resistance and interim Coin Rally of $7680 dated June 3.
3. Trading volumes have also been the best in a few months, as specifically Bitcoin activated automated orders whilst racing through numerous solid resistance levels. Bulls sector would still need more crypto coins to participate in the break-out and from current long-term setup continues to be very little revised.
4. Having said all that, the majority of the majors continue to be stuck in, or just near the top of their trading ranges, together with Bitcoin, bearish signals seem to be lining up at or near their Key Resistance levels.
1. The relief Coin Rallies in the crypto currency segment went on in earnest yesterday, as Bitcoin continues to lead the trading path higher printing its very best daily overall performance ever since the month of April. The most valuable crypto coin stole the show, while the entire crypto market took-off higher.
2. Bitcoin charge passed the primary resistance levels of Mean Resistance $6370 and Key Resistance $6765 and is heading towards a Key Resistance and interim Coin Rally of $7680 dated June 3.
3. Trading volumes have also been the best in a few months, as specifically Bitcoin activated automated orders whilst racing through numerous solid resistance levels. Bulls sector would still need more crypto coins to participate in the break-out and from current long-term setup continues to be very little revised.
4. Having said all that, the majority of the majors continue to be stuck in, or just near the top of their trading ranges, together with Bitcoin, bearish signals seem to be lining up at or near their Key Resistance levels.