đŻ Quick Weekly Overview
Wednesday, May 22:
- Bitcoin Pizza Day 2024
- NVIDIA Earnings Report
- UK CPI Data
Thursday, May 23:
- ETH ETF Decision
Friday, May 24:
- Federal Reserve Meeting Minutes
đŻ Analysis
This is going to be a low-volatility week for the market, as $BTC's CME close was $67,215 and the current price is ~$70k
After sweeping the liquidity from the $57k-$59k range, the price bounced back, reclaiming the $65k level. Currently, $BTC is forming higher highs and higher lows. As long as it remains above $65k, the first target is 2021 ATH ($69k-$70k), which was claimed yesterday, followed by the upper liquidity zone ($74k-$75k).
If BTC stays bullish, funds are likely to flow into lower-cap altcoins. $SOL has been performing exceptionally well and often leads the altcoin market. The $ETH ETF decision was crucial, the market has been reacting to the rumor last night, as some outcomes might already be priced in, the final result, however, will break the ice. Additionally, NVIDIA's earnings report is anticipated to be positive, which could positively impact the crypto market, especially the crypto AI sector.
âïž Conclusion
Based on current analysis, prices are likely to continue rising this week. We will keep monitoring and updating you.
