New Technical Overview:
Micro Bitcoin Futures:
The bears tested $74.5k on Wednesday, 27 May. Meanwhile, BTC futures closed the session below $76k. Today, the futures opened beneath support. Notably, the Stochastic indicator did not send out any bullish signal, with the fast line approaching the signal line, but failed to cross it. Traders who prematurely launched long positions might have been stopped out. The setup has changed abruptly for the bulls, with the odds of a retracement to $70k on the rise. However, it is still too soon to talk about a market-wide bearish reversal.
Micro Ether Futures:
The bulls folded as the futures dropped below $2,100. Unfortunately, our expectations for a rebound did not materialize, as the likelihood of a pullback was less than expected. ETH futures are currently trading near the lower bound of its regression price channel, with a correction likely at that mark. The price action should at least confirm the possibility of a rebound and a retracement to $2,100. For the time being, no strong technical signals have emerged.
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⚠️This material should not be interpreted as investment advice.
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