BTC $69400 Weekly Update #23: Stalling at low ~$70k
Bitcoin price is stalling at 71-72k over the last 2-3weeks.
The 3D macd is positive but the volatility remains low causing the macd not to get a bullish separation from the signal line.
On the the higher time, a monthly close above 72k would be good, but a a close above 74k would be more significant.
The macro is still in an uptrend.
Bulls need to maintain a solid close above 61k for the worse case scenario, specially for this Month of June.
So the range 72-60k could be the new 32-25k in term of re-accumulation till bulls crack the 74k on the Monthly, based on the current structure.
But will continue to monitor as things evolve.
The 3D macd is positive but the volatility remains low causing the macd not to get a bullish separation from the signal line.
On the the higher time, a monthly close above 72k would be good, but a a close above 74k would be more significant.
The macro is still in an uptrend.
Bulls need to maintain a solid close above 61k for the worse case scenario, specially for this Month of June.
So the range 72-60k could be the new 32-25k in term of re-accumulation till bulls crack the 74k on the Monthly, based on the current structure.
But will continue to monitor as things evolve.
