BTC is exhibiting dampening oscillations showing we’re nearing the end of a trading range. Meanwhile, the alts are also hinting at a bottom here.
Bitcoin’s rally has made good progress and the daily chart looks good – however volatility is high and short-term a pullback looks on the cards.
Bulls finally pushed bears out of the resistance/gap zone last night, triggering the start of a short squeeze. This may be just the start however.
So far our bottoming hypothesis is holding up. The Bitcoin chart remains bullish however gaps in various coins’ charts are proving tough resistance.
Jon Cotton makes the case for the Bitcoin and alt-coins market to have bottomed, discover more in this article.
BTC is uncannily mirroring May’s action. This and the dollar action point to lower prices for cryptocurrencies just ahead.