Telegram Trading

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Assessment: Based on volumes since early May, I am not sure we are going to get much market excitement this summer. I hope I am wrong and it can surely happen at any time BUT right now the volume is pathetic despite the news and the price action is little to none. It is as though traders have decided to take the summer off (far more than in previous years) and enjoy their summers. We will see if maybe a new month brings some new action. I don’t expect much today given it is Friday.

Bitcoin chart:

Once again, these pivots were in place months ago and look how predictive they are for future trading. Look at how price has been drawn to the pivot at $68,175. Do you think that level is important? I would say yes. A material break above or below the pivot will likely trigger some additional momentum in the direction of the breakout. Right now though, BTC is not giving many hints as to direction. Although it does look like we might be getting an MACD bearish crossover.

Good luck in your trades!