The macroeconomic events on June 12 could provide direction to Bitcoin and altcoins.
) volatility this week. The Federal Reserve’s press conference following the rate decision and the Consumer Price Index data, both due on June 12,
Buyers will try to push the price to 105.75 and subsequently to 106.50. This optimistic view will be negated if the price turns down sharply and skids below 104.The bulls managed to keep Bitcoin above the 20-day EMA but failed to start a strong rebound off it. This suggests a lack of aggressive buying at current levels.The bears will try to sink the price below the 20-day EMA. If they do that, the BTC/USDT pair could sink to the 50-day SMA .
On the contrary, if the price breaks below the breakout level, the pair could descend to the uptrend line. The bulls are expected to defend this level with all their might because if they fail in their endeavor, the pair may tumble to $560 and then to $536.The bulls have defended the 50-day SMA for the past three days but have failed to push the SOL/USDT pair above the 20-day EMA . This increases the risk of a breakdown to $140, which is expected to behave as a strong support.
Toncoin rebounded off the 20-day EMA on June 9, indicating that the sentiment remains positive and traders are buying on dips.The bulls will try to push the price to the overhead resistance of $7.67, which is likely to attract strong selling by the bears. However, if the bulls prevail, the TON/USDT pair could start the next leg of the uptrend toward $10.
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