Cryptocurrency Q2 Technical Forecast: Bitcoin, Ethereum, Solana.

BTCUSD , ETHUSD , AND SOLUSD TECHNICAL ANALYSIS
The outlook for Bitcoin and Ethereum is positive, but volatility is expected in the coming months. BTC/USD reached a high in mid-March before retracing back to its previous all-time high. Bitcoin appears poised to rise in the coming weeks, with the current spot price above all three moving averages (except for the 20-day sma), and the CCI indicator showing oversold conditions. The Average True Range (ATR) indicator reflects high levels of volatility. While Bitcoin is expected to move higher, sharp downturns can be anticipated along the way.

From now until Halving day, you should limit shorting BTC, not knowing how crazy BTC will push to pull in liquidity from the Fomo crowd.

The Q2 outlook for Ethereum looks positive, with a similar daily chart to Bitcoin. While Bitcoin reached a new all-time high this year, Ethereum is still below its November 2021 ATH at $4,860. The recent triple-top at just under $4,100 is the next target, and if broken, $4,400 and the November 2021 ATH will come into play. Ethereum is currently oversold according to the CCI indicator, and volatility is high. A fresh all-time high may be challenging in Q2, but a pushback above $4k seems likely for Ethereum.

Solana traders have experienced a volatile journey recently, as the L1 coin surged from the mid-teens in September 2023 to a high of $210. The increased activity on the Solana network, fueled by market enthusiasm for meme coins, has caused the Solana share price to increase nearly tenfold in six months. Interest in Solana remains strong, indicating that the recent $210 high may be surpassed in the coming weeks. However, reaching the all-time high of around $260 may be more challenging, although bullish traders highlight that Solana is currently above all three simple moving averages.

Comment:

Bitcoin is recovering after a sharp decline on the day gold prices set a new record high

Bitcoin has recovered to nearly $69,800 after falling from $70,200 to $69,000 during the day.

Comment:

The upcoming Bitcoin halving event has investors and analysts looking forward to it, as history shows a mixed immediate impact but an extremely positive long-term effect. Previous halvings have seen Bitcoin increase in price from 292% to over 8,000%, raising questions about whether this trend will continue.