State of Mind - May 3rd

New day on the crypto planet!

What's the feeling today, guys?

Well, we are forced to note that the total market capitalization is higher today than yesterday at the same time, and that is a good thing. Indeed, it currently stands at $437 billion.

We told you yesterday that the Bitcoin was in an ascending bevel configuration in 15 min time horizon. Prices broke it down for a while but this break proved wrong. The BTC is currently testing the upper boundary of its triangle configuration in a 2-hour time horizon.

A break of this resistance would allow the Bitcoin to come to test the 9,800$ zone again, the 10,300$ then and finally the crucial 10,800$ zone in extension.

The Ethereum is currently testing its resistance at $723 and could head towards the $890 zone if it is broken. As we announced yesterday, there seems to be a divergence between the evolution of the BTC and that of ETH, which is rather positive for the latter.

As usual guys, be careful and use stop-loss!