The market is neither bullish nor bearish today as some coins have left the correction phase while the rates of others are going down.
BTC/USD
The rate of Bitcoin (BTC) has increased by 1% in the last 24 hours.
On the hourly chart, Bitcoin (BTC) is trying to move back into a bullish zone. If there is an increase in buying volume and the rate can revisit the $30,000 mark, there is a possibility of a breakout of the resistance.
On the larger time frame, nothing significant has changed in terms of possible bullish moves. For the moment, one needs to focus on $31,000 and the way the price approaches it. If the bulls can reach this mark, the development could soon continue towards $32,950.
From a medium-term perspective, Bitcoin (BTC) is trying to bring Tom back to $30,000. In addition, the volume of sell trades has fallen, which means that the bears are losing their momentum. If the rate can return to the mentioned mark by the end of the month, June could be bullish for the major cryptocurrency.
Bitcoin is trading at $29,732 at press time.