Welcome to another crypto market outlook for the 28th of June!
The crypto market is optimistic again after the war ended, and discussions between the US and China regarding the trade war are going well. I’m not surprised, as July and August are usually bullish months. Let’s see how these two upcoming months unfold.
Today, we will cover the following topics:
– Market Heatmap and Fear and Greed Index
– US500 and DXY
– USDT.D, Bitcoin and Ethereum Analysis
– Quotes / Advices
– Closing Remarks
Market Heatmap and Fear and Greed Index
The overall crypto sentiment has finally shifted from bearish to bullish, with BTC leading the way, surging by over 4% and pushing altcoins back up after many formed new lows last week.
The Fear and Greed Index has also shifted from Neutral to Greed, indicating that traders are becoming optimistic about international markets again and more willing to take risks—something that naturally benefits crypto.
US500 and DXY analysis
As per our last market outlook, the US500 just created a new all-time high this week.
Even though it’s only a few points above the previous all-time high at $6,150, it’s still a positive sign.
As long as the previous all-time high at $6,150 holds, the only way from here is up.
If the $6,150 level is broken to the downside, a short-term bearish correction toward the lower orange trendline would be expected.
After rejecting the $99 resistance zone, DXY started a new bearish impulse and is now pushing toward the next support at $96.
As per our last market outlook, DXY broke below the last low marked in red at $98.45 and started its bearish impulse.
Currently, DXY is retesting the lower bound of its falling channel marked in orange, so a bullish correction toward the upper orange trendline is expected next week.
USDT.D, Bitcoin, and Ethereum analysis
As per our latest market overview, after rejecting the upper bound of the rising red wedge, USDT.D dropped aggressively.
As long as the bears remain in control, a further decline toward the lower bound of the wedge at 4.7% is expected — which would be positive for crypto.
The bears will remain in control on USDT.D, and the bulls will remain in control for crypto, as long as USDT.D trades below the 4.9% high marked in red.
As per our last roundup article, BTC has been trading within the falling channel marked in red as part of a broader correction phase.
For this correction to end and the bulls to initiate the next major impulse upward, a break above the upper red trendline is needed.
Here are the possible scenarios that could lead to the next movement:
– A break above the $109,000 mark would allow the bulls to start a new impulse, potentially leading to a new all-time high.
– A break below the last low at $106,000 would trigger a deeper bearish correction toward the $100,000 structure marked in orange.
ETH is still retesting the $2,400–$2,500 resistance zone.
For the bulls to regain long-term control, a break above this resistance and the $2,575 supply level is needed.
In parallel, if the last low marked in red at $2,375 is broken to the downside, the bears will take over and drive another bearish impulse toward the $2,250 demand zone.
Quotes / Advices
The core problem, however, is the need to fit markets into a style of trading rather than finding ways to trade that fit with market behaviour.
~ Brett Steenbarger
Closing Remarks
In summary, the crypto market turned optimistic following the end of the war and improving US-China trade discussions. With July and August historically bullish months, sentiment has shifted in favor of the bulls.
US500 hit a new all-time high just above $6,150, signaling strength, while DXY continues its bearish move toward $96 after rejecting key resistance.
USDT.D is falling, favoring crypto momentum as long as it remains below the 4.9% level. BTC remains in a corrective phase within a falling channel, with a breakout above $109,000 needed for a new impulse.
ETH is still testing resistance around $2,500, with a breakout above $2,575 required for a bullish continuation, while a drop below $2,375 could send it toward $2,250.
