BTC VIP Analysis and Crypto Update 29 May 22
05/29/2022
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Market Analysis
May 29, 2021
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🐠TECHNICAL (4H)
The whole market is currently in our limbo range that has been held for way longer than expected, and with BTC trading just around one of our most important long term levels in year and a decreasing higher time frame volume, we can expect our decisive move to happen in no more than a couple of days.
🐠SENTIMENT
Sentiment has increased slightly over the last 24 hours, showing signs of a potential relief around our weekly close, however, we still have no mid term confirmation for this and we need to wait for in in order for sentiment to officially explode towards new mid term highs.
The bulls are currently in extreme fear considering that if BTC head lower than this, we would likely enter a long term bear market similar to the one we saw back in 2018. This is a factor that will likely cause the relief rally we mentioned which could last anywhere from a week to a couple of months.
#BTC DAILY RANGE:
📈Upper Limit: 32,013
📉Lower Limit: 26,281
(+-15% based on moving average volatility open/end points)
🐟SCALP ENTRIES (VIP)
(*Advanced traders only - moderate/high risk)
🧭LONG
$24,250
📡SHORT
$36,431
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