A small technical view at how the market will (or might) develop the next month. Long term I’m not a big fan of basing your investment decisions on TA, rather I prefer basing them on fundamental analysis and then hold. The market is showing signs of the bears getting weaker, also the highs are getting lower and the lows are getting higher, forming a very nice triangle. In the middle of June we should test the resistance of the triangle ($9300 – $9600) and hopefully break through, otherwise it’s likely that the market will return to the support line ($7200). If the breaks through, we should see the price of BTC going over the $10,000 to confirm an outbreak and a trend reversal towards a new bullmarket.
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