Bitcoin's Macro Outlook This Week: 'The Trend Is Our Friend,' Says Analyst
Portfolio Pulse from Khyathi Dalal
Analyst Ted provides a positive outlook for Bitcoin and Ethereum, citing slowing inflation and upcoming employment data as key factors. Bitcoin's weekly range is projected between $63,300 and $72,200, with critical support at $66,000. Ethereum's range is between $3,440 and $4,110. The market focus is on the Fed meeting and employment data, which could influence risk assets.
June 03, 2024 | 4:12 pm
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POSITIVE IMPACT
Bitcoin is expected to trade between $63,300 and $72,200 this week, with critical support at $66,000. Slowing inflation and upcoming employment data are key factors influencing its price.
The analyst's positive outlook is based on slowing inflation and upcoming employment data, which are seen as favorable for risk assets like Bitcoin. The critical support level at $66,000 is crucial for maintaining the short-term trend.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Ethereum is expected to trade between $3,440 and $4,110 this week. Slowing inflation and upcoming employment data are key factors influencing its price.
The analyst's positive outlook is based on slowing inflation and upcoming employment data, which are seen as favorable for risk assets like Ethereum.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 100