Bitcoin wicks down to $26.5K, but trader eyes chance for ‘bullish surprise’

Fellow trader Crypto Tony similarly urged caution until $27,500 returned. His focus was on biggest altcoin Ether (ETH), which rebounded from lows of $1,840 at the May monthly close to hit $1,897 on the day.” Now i have actually reviewed the structure and we really are not bullish unless we flip $2,000 into assistance,” part of Twitter commentary nevertheless alerted. An accompanying chart provided a target of $1,700 or lower must the $2,000 mark stop working to flip.ETH/ USD annotated chart. Source: Crypto Tony/ TwitterBitcoin move “ought to be here” Elsewhere, others argued that time was ticking for Bitcoin rate to break out, with financial commentator Tedtalksmacro flagging beneficial macro conditions.Related: Bitcoin hodlers left capitulation above $20K, new metric hints” Treasury yields + USD lower, gold + equities higher,” he summed up about a relative performance chart on June 1. “If Bitcoin is going to move, it ought to be here imo … TradFi shifting risk-on again.” Bitcoin vs. macro possessions contrast. Source: Tedtalksmacro/ TwitterPopular trader Moustache was equally upbeat about a Bitcoin copycat move based on bullish signals from the S&P 500.” If the S&P 500 looks bullish, so does Bitcoin,” he concluded in part of his latest market analysis.$ BTC If the S&P 500 looks bullish, so does #Bitcoin. 5 months later on and everything is going according to plan (see next tweet). -Breakout from a >> 1-Year Descending BW -Successful retest ✅- Inverse Head & & Shoulder -First (W)- Candle is about to close ABOVE the SMA 100 pic.twitter.com/p36vZZgCoE— ⓗ (@el_crypto_prof) June 1, 2023

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” Now I believe we bounce back towards $27,500– resistance of the previous range high– and from there I will be looking for, perhaps, shorts towards $25,000,” he confirmed.$ BTC/ $USD – Update I remain brief while we are below $27,500 legends. Fellow trader Crypto Tony also advised caution up until $27,500 returned.

Moustache constructed on existing findings from January, in which he forecasted similar proceed Bitcoin must the S&P 500 stage a comeback.Magazine: AI Eye: 25K traders bet on ChatGPTs stock choices, AI draws at dice throws, and moreThis article does not include investment advice or suggestions. Every investment and trading move includes threat, and readers ought to perform their own research when deciding.

” I do believe we go down, but as long as we do not break that $26,000, there is an opportunity for a bullish surprise,” he said in a YouTube upgrade on the day.To break the current impasse, Crypto Ed continued, Bitcoin would nevertheless require to take on the area above $27,600.” Now I believe we bounce back toward $27,500– resistance of the previous range high– and from there I will be looking for, potentially, shorts towards $25,000,” he validated.$ BTC/ $USD – Update I remain brief while we are listed below $27,500 legends.