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Blockchain Weekly - Issue No. 13


BlockHash Research

June 6 · Issue #13 · View online

Covering the latest topics that move the market, chart signals that you should watch, the best low cap crypto projects and much more!

Bitcoin Miami is in the books and it’s a significant moment for the crypto community! With the “Fuck Elon” and “I’m not selling” chants echoing through social media, major personalities like BitBoy, Max Keiser, the Winklevoss twins, Logan Paul and others advocating for Bitcoin, and the “Abolish the Fed” sentiment swirling around, I think it’s safe to say the crypto community is strong enough to persevere.
I do say this with caution, as one event doesn’t necessarily determine an entire industry’s future. But the apparent energy and desire to innovate makes me incredibly bullish, even at this moment in time.
I would highly encourage you, the reader, to subscribe for Blockchain Insider and listen to me discuss these things in more detail. You can’t but a price on proper analysis and education at this point in time in crypto.
For the rest of you, let’s continue on below to uncover what the hell is happening with Bitcoin and whether we are still in a bull market move:

Bitcoin (BTC)
Bullish Prediction:
Three major things have depressed the price. Elon Musk, the “China ban” and the IRS saying they’ll seize your crypto. In my opinion, these news cycles are vapor in the wind. It will blow over. I would focus on the longer trend for Bitcoin since before January 2021 and the incredibly strong resistance level around $30k. As long as this holds, Bitcoin will have every opportunity to slowly begin climbing the ladder again.
$100k by Summer (my original prediction) may not happen now, but a solid correction phase that may be ending could give investors the confidence they need to reenter or double up on their Bitcoin and Altcoin investments. If $30k holds, $100k EOY is a very solid possibility given the right circumstances. Invest cautiously right now and be patient.
Bearish Prediction:
As I stressed last week, if Bitcoin breaks below $30k, which is also through the lower Bollinger Band, then we could see a selloff down $28k at first, with the worst being down to $16k, it’s last resistance point. If this event occurs, the bull market will probably be over for the year. But if you short this event, you can size up your position at a hell of a discount. In the end, Bitcoin will eventually go back up.
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Stay tuned for the newsletter next week and thanks again for being a subscriber! Feel free to email me with any questions or suggestions you may have. Have a killer week trading!
Brandon Zemp
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