Crypto Briefing 5/15/23 – The Forecast

Crypto Briefing 5/15/23

Crypto Briefing 5/15/23

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We are witnessing assets within the top 100 sitting at support throughout the crypto market. With the risk of an economic slowdown, assets across the board continue to threaten investors with a significant correction. With the NASDAQ inching closer to a major area of resistance, there is the possibility that we are about to see a double top come in for equities.

Often times trading ranges can overshoot the confines of support and resistance. While an asset such as Bitcoin can appear to have broken out of the range, there is an 80% probability that the breakout of the trading range will fail. Rather than taking risk on a short, it is better to wait for a breakout instead of trying to time one.

Just like Bitcoin, HBAR and QNT are sitting at support.  Should Bitcoin lose this level of support, then it is likely that HBAR tests $0.03 to $0.04.

Should QNT break this level our first price target is sub $100 at $86. While Quant has shown strength during this bear market, should it fall beneath $100, there is the potential for investors to panic sell.

COIN is still in a broad trading range.