My thoughts for the coming week.
Firstly note, Tomorrow(27 May) is a bank holiday in the US and UK and the Stock exchanges are close.(lower volume)
Early tomorrow we have BOJ(Bank of Japan) Gov Ueda speaking, though it wont have a huge impact on Crypto short term, Japan is the worlds 4th largest economy and a huge Crypto market so his policy moves are worth noting.
I personally think we will see a quiet start to the week for Crypto with no major moves until Thursday or Friday when we get key economic news from the US, MOST importantly will be PCE on Friday.( It could be a pretty boring week till then)
Should the ETH S-1 apporovals happen this week then that will shake things up a bit, for those who dont understand S-1 approvals are needed so the ETFs can actually be traded.(These approvals could still take weeks)
I think it is VERY UNLIKELY we see $BTC push to test new ATH in the coming week.(we will probably be within the $66.5-$70.5k region until late thursday-friday)
I also think it is VERY possible we see tokens that have pumped in the last few days to have a correction in the coming few days ($ENA , $BB and so on) i am NOT saying sell,short or close good entries but dont fomo in long leverage at currect prices.
Mostly i see sideways movement in Major Crypto(excluding ETH) for the coming days but be aware of pump and dumps in the low Circ supply projects, especially those pumping because of ETH FOMO.
If you are a short term trader, the most important thing is to recognize trends(The trend is your friend) and currently we DONT have one( we are still sideways mostly), dont force yourself into bad entries, you have to be patient and find good entries, its the only way you will succeed.
Be Smart.
Peace.