Bitcoin Price Prediction for June 2, 2016

Jun 2, 2016 --- (ARCHIVED) Free Reports

Market Commentary (BTC):  

It's been a relatively benign holiday shortened week so far as price continues to chop around in a tightening range which now sits between 520 and 550 $.  

As we have been reiterating for the past few days, until this range is broken one way or the other we remain in somewhat of a trading dead zone. There are not many favorable risk/reward setups that we can see at current levels which is why we are staying patient and neutral until we get more clear signals as to directionality.  

Having said that, we still think the near term bias is to the downside, particularly given recent developments on the 6-hour chart below...

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