Quick market update — no fluff, just what I actually see.
The price of bitcoin hit $64,400, retesting a level it failed to penetrate on Monday, with a break higher opening the path toward the June 15 peak of $67,250.
IF BTC can break above $67,250, I'd consider entering a long position, targeting $70,000, with a stop-loss around $65,000, given the current momentum and the fact that ETH is also performing well, currently at $1796.68.
IF however, BTC fails to break above $67,250 and falls below $64,000, I'd consider shorting, targeting $62,000, with a stop-loss around $65,500, as this could indicate a trend reversal, and coins like XRP and SOL might follow suit, given their current prices of $1.1047 and $78.14 respectively.
I think the first scenario is more likely, given the current market sentiment and the fact that the price of bitcoin is already close to the resistance level, and the fact that other coins like LINK and SUI are also showing signs of strength, with prices of $7.9700 and $0.7390.
Overall, I'm bullish on the market, and I think we'll see a break above $67,250 soon, which would be a great opportunity to buy, with a potential entry zone around $65,000, and a take-profit target of $70,000, so let's keep an eye on the market and see how it develops 🚀💰
#cryptomarket #bitcoin #ethereum #bullrun