Stavros Tousios
Independent Analyst
$Bitcoin (BTC) has slid further since our last video registering a fresh low as expected and has already recovered some of its losses. The current structure off the low points to a double zigzag correction, however, bulls will need to get a good grip on the swing low of $18.6k to support the narrative.
$Rune (RUNE) experienced a significant rally after its own low but prices have primarily reversed to the golden pocket, making the case of a low-volume downward impulse somewhat more likely than a correction below the 50%. Can bulls hold on to the support, or are we due for further descents? For more details on which is the main and which the alternative scenarios check my weekly widely anticipated video below:
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
AI crypto coins rally ahead of ChatGPT creator OpenAI plans to announce Google search competitor on Monday
Barely before the hype around NVIDIA stock gain is over, AI crypto tokens have another bullish catalyst coming their way, which could provide more tailwinds to drive the price of the sector’s tokens.
Ethereum needs a bullish trigger, Joseph Lubin blasts the SEC
Ethereum co-founder alleges that the SEC aims to stifle innovation through its enforcement actions against Ethereum-related companies. Grayscale CEO says he's optimistic the SEC would approve its spot ETH ETF application.
Franklin Templeton declares it’s “Base Season” as the Coinbase low-cost L2 sees significant rise in activity
Franklin Templeton, an investment firm with up to $1.46 trillion in assets under management, has declared that “It’s Base Season.” It comes amid growing activity on the low-cost ETH L2 solution.
Binance fined by Canadian financial regulator over AML violations
Canada's financial regulation body, the Financial Transactions and Reports Analysis Centre (FINTRAC), has fined Binance for refusing to abide by the status quo for all foreign monetary bodies in the country, according to a report on May 9.
Bitcoin: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.