Bitcoin & Crypto Market Update: What Traders Should Know This Week
🟠 Bitcoin Update: Stability Before the Storm?
Bitcoin (BTC) has shown relative stability over the past week, hovering around the $68,000 - $70,000 range. After an aggressive rally in early May, the digital asset seems to be consolidating as traders prepare for the next major move. Key support is holding at $66,500, while resistance is forming near the $71,000 mark.
Recent on-chain data suggests increased accumulation by long-term holders, while short-term holders are showing signs of cautious profit-taking.
📊 Key BTC Levels to Watch:
Resistance: $71,000, then $73,500
Support: $66,500, then $64,200
RSI: Neutral (52) – no overbought or oversold signals
🧊 Market Overview: Sideways Sentiment
Across the crypto market, altcoins are showing mixed performance. Ethereum remains range-bound around $3,700, with traders eyeing the long-awaited ETF approval. Meanwhile, tokens like SOL and LINK saw brief upticks but failed to maintain momentum.
📌 Top Performing Coins (Past 7 Days):
PEPE: +15.3% – meme coin rally
LDO: +7.4% – boosted by staking narratives
RNDR: +6.1% – AI-related optimism
🔻 Underperformers:
AVAX: -6.2%
DOGE: -5.4%
UNI: -4.7%
🗓️ What’s on the Radar:
U.S. PCE Inflation Data (Friday): May impact Fed expectations
Bitcoin ETF inflows/outflows
Options expiry (monthly close): could bring increased volatility near the end of the week
💡 Flatucate Forecast:
Expect low to moderate volatility early in the week, with a potential spike in activity near Thursday–Friday. Range-bound trading likely unless major macro data surprises the market.
📈 BTC/USD Daily Chart Snapshot
![Insert Chart Here – e.g., TradingView Embedded Chart or Screenshot]
Chart Notes:
50-day EMA is acting as dynamic support
MACD trending sideways, showing indecision
Price forming a potential bull flag – watch for breakout above $71K
👨💻 For Traders: Tips of the Week
✅ Consider range-bound strategies (e.g., scalping or range trading)
✅ Use tight stop-losses if trading altcoins..
