Momentum has steadily built for bitcoin as investors digest

Momentum has steadily built for bitcoin as investors digest macroeconomic shifts in data

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BTC

103,927.37

-0.85%

DATA

0.01388

-3.54%

314

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Crypto_richy01

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ETH/USD needs to break above the May 6 high of 2019 for the downside risks to be eliminated.

ETH/USD has crossed above the immediate hurdle at last week’s high of 1872, suggesting that the downward pressure has eased a bit.

The broader trend in BTC/USD remains bullish, notwithstanding the recent consolidation

The rise on Monday above the initial cap at the mid-May high of 27675 has reduced the downward pressure somewhat. However, unless BTC/USD clears the 30000 mark, the path of least resistance is sideways to slightly down.

This led him to predict that sideways movement and choppy price action could be expected until the 2024 Bitcoin halving event.

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