During the week, Bitcoin showed a clear transition between market structures, forming a clear bearish structure. Ethereum has drawn a symmetrical triangle pattern, with lower highs and higher lows, converging in an area of indecision. Gold has clearly moved within a descending channel, consistently respecting lower highs and lower lows throughout the week.
This week was marked by expectations of interest rate cuts by the Federal Reserve, which were overshadowed by inflation data in the U.S. that continues to show rigidity, reinforcing a restrictive monetary stance. Meanwhile, markets were attentive to movements in the Middle East and the trade stalemate between the U.S. and China, adding an additional layer of uncertainty.
During the week, Bitcoin showed a clear transition between market structures. The first half was dominated by a sequence of lower highs and lower lows (LH and LL), forming a clear bearish structure.
However, the subsequent breakout of the last lower high with a new higher high towards May 15 suggests a possible trend reversal. This movement was accompanied by a notable increase in volume, which solidifies the breakout.
Ethereum has shown a more orderly evolution than Bitcoin. After a vigorous recovery on the 14th, ETH has drawn a symmetrical triangle pattern, with lower highs (LH) and higher lows (HL), converging in an area of indecision. The breakout of the last high on May 15 could be interpreted as a sign of strength, although the price has not yet exited the consolidating pattern.
Looking ahead to the coming days, attention will be focused on the range defined by $2,500 and $2,680. A breakout upwards with volume could lead to a rally towards $2,800, while a loss of the lower support would open the way for a correction towards $2,440.
Gold has clearly moved within a descending channel, consistently respecting lower highs and lower lows throughout the week.
Despite some attempts at a rebound, gold failed to break the bearish trendline that acts as dynamic resistance. The decreasing volume during the rebounds suggests a lack of buying conviction.
The week was characterized by mixed structures, where BTC attempts to reverse a bearish structure, ETH is in full consolidation, and gold maintains its downward bias. Volatility has moderated compared to previous weeks, but the formed patterns show clear indecision.