From last Monday, 4th of June, cryptocurrency market capitalisation has decreased from 350,914,000,000$ to slightly below $300B where it is currently, which is a 51 billion dollar decrease.
After we have seen the prices decrease over the last 7 days, we are likely to see some sideways action in this one, followed by indecision over the weekend. I think that the prices are going to retest prior support levels which now serve as resistance and fall back further to the levels of prior lows, which for Bitcoin would be around the 6000$ area. That may trigger some buying or may create a panic selling. I am considering this week a ‘no-trade week’ as long as I don’t see either retest of the prior lows or a confirmation of a trend reversal.
For the reasons why I think that, make sure to check the video.
