BTC the next days

Bitcoin / U.S. dollar BITSTAMP:BTCUSD

evasivesteering

BTC has been consolidating in a triangle after losing the weekly trendline last week.

I think in the next days, BTC /USD pair will revisit $26000.

If we trace a Trendbased Fibonacci extension (using three anchor points $69000 – $33000 – $48000), BTC has lost the Fib 0.5 (at $30118) on 11th May. Now it is revisiting this level (see the snapshot below).

However, buy pressure is quite limited this week and I think at the beginning of next week the situation will not be improved. In short & mid term, LUNA/UST still has negative impact on crypto market, alongside many other bad economical/geopolitcal instabilities.

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