New day on the crypto market!
What's the feeling, guys?
Market capitalization has been rising since May 1 when it reached a low of $404 billion. It currently stands at $427 billion. During the day yesterday, the Bitcoin corrected and fell back to the $8,829 level. The BTC is now back above the $9,000 level.
The situation is delicate for the BTC because the technical indicators over different time horizons do not give us the same message. Indeed, in daily horizon, the feeling is rather bearish whereas it is rather bullish in 4 hours.
In 30 minutes time horizon we can currently see an ascending wedge configuration. If the latter breaks down, we could see a further drop in prices and a return to the $8,800 zone.
So it's a bit confusing. In this context, be careful and use stop-loss!