[PRICE ANALYSIS] May 30 - 31 : BTC / USD, ETH / USD

Bitcoin's price surged during the weekend, reaching $ 9,600, without shaping any breakthrough move from a technical analysis perspective. The "Triple Bottom" signal predicted a bullish turn, which happened in the last week. Indeed, the price moved between the boundaries of $ 8,600 and $ 10,000, closing the weekend at $ 9,500.

It's worth noting that in the previous two ascending moves during the last month, it formed a 50o triangle, showing how quickly the ascending move will reach the $ 10,000 resistance. According to the previous triangles, the $ 10,000 resistance will be reached in the next 3 days and this will be the crucial point.

As we have mentioned multiple times in previous articles, the $ 10,000 resistance will shape the future for Bitcoin's price. $ 10,000 is also a psychological border where a cross will create positive reactions in the market. In the opposite scenario, the bears will take the upper hand and the price will collapse in previous support levels.

In the short-term diagram, we see no difference with the previous weeks. The parallel channel has not broken while the volume cannot support a decisive move for a positive uptrend. We expect to reach the $ 10,000 resistance in the next days, and if there is a supporting volume, a decisive move for breaking the $ 10,000 resistance.

Indicators

MACD index starts moving upwards, remaining on negative levels, showing there is no clear momentum for Bitcoin. Supporting the previous statement, the RSI index continued its move near value = 60, showing there is more space for an uptrend.

Ethereum / US Dollar

Price Analysis

The parallel channels broke during the weekend, delivering a 10 % surge for Ethereum's price. The price reached $ 240, a level that was reached around early-March. The new level was not supported with the proper volume and this is a critical point, where we should be very careful. An uptrend without major volume transactions could be temporal and the investors can claim their profits and leave Ethereum.

We hope that the upper side of the previous parallel channel will form a $ 220 support level, but there is no past evidence regarding that move. If the price could not stand in the new environment at around $ 240, then the support levels have been formed at $ 200 and $ 185. We expect a corrective move according to Ethereum's correlation with Bitcoin, whose surge was much more conservative during the weekend.

The corrective move will be accompanied by volume and maybe some news on the fundamental side.

Indicators

MACD index moved clearly in the positive area showing a possible positive momentum to be created in the market. In contrast with that, the RSI index touched the overbought area during the weekend, correcting immediately on Sunday. The RSI index showed also that the price surge could stand for a small period due to the speed, without previous building around it.