Now the data flow is calm and Fed’s Hard truths need to be priced in as its trajectory is largely shaped. Although BTC remains strong for now, the risk is increasing as we start to see closes below $80,400. Today we will take a look at the current predictions of different analysts for Bitcoin. What do experts expect for the rest of May?
Trump’s China summit
Fars News Agency announced in the early hours of the day, “Following the agreement reached on the management protocols of Iran’s Strait of Hormuz, the passage of Chinese ships through the Strait started yesterday.” However, we have not yet seen any concrete steps in favor of the USA from China regarding the solution regarding the Strait of Hormuz. Moreover, Trump said yesterday that China would not be happy with the change in the status of the Bosphorus and that China agreed with them on this issue.
Alright Chinese What are the results of the summit? After this meeting with China, the USA received an order for 200 Boeings. It was announced that the US agriculture and soybean agreements will move forward. Other than that, we haven’t seen any serious steps. Although Trump said that relations with China would be “much stronger than before” when leaving Beijing, this will need to be underlined in the coming days, especially within the framework of the ongoing conflict with Iran.
trump Although he accepts the idea of stopping the nuclear program for 20 years, he said he wants real commitments on his way back from China today. It shouldn’t surprise investors if we see major attacks on Iran’s infrastructure next week.
What about Bitcoin?
Jelle is not very optimistic as the first local bottom has been formed. After rejection from the 200-day EMA and bearish divergence, the current situation is not looking encouraging. Like many analysts, he says it may be time for a deeper correction to $75,000 and below. We have seen the rising part of May, now a little decline is possible.
“If the bulls don’t get back on the gas today, I’m pretty sure there will be a pullback for the rest of May.” – Gel
Trader_XO thinks that tight range volatility offers good trading opportunities for short-term investors and this should be the main focus. Not sure of the direction yet. He will take positions depending on whether the price will close above or below the previous and current week’s VWAP.
