Welcome to another crypto market outlook for the 21st of June!
The crypto market has struggled this month, but fortunately, June is almost over. July and August are typically bullish months, so expect the bulls to kick in aggressively soon. Are you ready? Fingers crossed!
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 remains bearish, and it feels like it’s been that way forever. Only a handful of altcoins had a bullish month, which isn’t a good sign. Both BTC and ETH are hovering around critical support levels—let’s hope those levels hold.
The Fear and Greed Index has been signaling Neutral all week, indicating that investors are staying on the sidelines during this period of uncertainty.
US500 and DXY analysis
As per our last market outlook, US500 rejected the $6,000 level this week, indicating that the bears are stepping in—especially as fear spreads due to the ongoing conflict between Israel and Iran.
For optimism to return, a break above $6,150 on US500 is needed.
The bears took over the medium-term this week after breaking below the lower orange trendline and the $6,000 round number.
As long as US500 remains within the falling red channel, the overall sentiment stays bearish, with a potential move toward the $5,800 structure marked in green.
This week, DXY broke below its weekly support at $99, signaling further USD weakness ahead.
As long as $99 holds as resistance, the next support lies around the $96 mark.
If the $98.45 structure marked in red is broken to the downside, further weakness on DXY is expected—typically a positive sign for both the stock and crypto markets.
USDT.D, Bitcoin, and Ethereum analysis
As per our latest USDT.D analysis, it’s still hovering around the 5% mark—a strong round number acting as resistance.
As long as this 5% resistance holds, the bias remains in favor of the bears.
On the 4H timeframe, USDT.D has been rejecting the upper bound of the rising red wedge pattern.
As a result, a bearish correction is expected on USDT.D, which would be bullish for the crypto market.
BTC has been hovering within a large range forming a symmetrical triangle marked in red.
As it retests the lower bound of the triangle and the $100,000 round number, we expect the bulls to kick in soon.
For the bulls to take over in the short term and initiate the next impulse toward the $107,000 resistance level, a break above the $104,650 structure marked in blue is needed.
As per our last roundup article, ETH has been rejecting the $2,400–$2,500 support zone.
If the $2,400 support level is broken downward, a move toward the next support at $2,100 would be expected.
In the short term, for the bulls to defend the $2,400 support and push higher toward the $2,800 mark, a break above the upper red trendline is needed.
Quotes / Advices
Your biggest enemy as a trader is yourself.
~ Alexander Elder
Closing Remarks
In summary, the crypto market has remained bearish throughout June, with only a few altcoins showing strength. The Fear and Greed Index has stayed Neutral, reflecting investor indecision.
US500 rejected the $6,000 level and is trending within a bearish channel, while DXY broke below key support at $99, suggesting further USD weakness ahead.
USDT.D is struggling to break above the 5% resistance, with signs of a potential bearish correction—bullish for crypto.
BTC is retesting key support around $100,000 within a symmetrical triangle, and ETH is holding the $2,400–$2,500 zone. For short-term bullish momentum to resume, BTC must break $104,650 and ETH needs to break above its red trendline.
