It's gonna be short review of the market this time. Bitcoin is at the $23k-$24k exactly testing the 0.25 fibonacci fan. Ethereum progressed even more, and is currently around $1,700. It's slready progressed beyond the 0.25 fib, and that is a good sign. I expect for bitcoin breaking to the update, this level is very important for a bulish market. The last time we testing this level was March 28 to May 5. We have been in this area for more than one month. And it's quite possible we might do more of the same this time, go down for a while, find more solid support at the $20k area.

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As I have learned, predicting the crypto market is extremely hard. And even if your prediction is correct in terms of direction, you probably have no idea where the bottom or top really is. Having said that, I also think that proper technical analysis works. Yes, it can't predict the next black swan event. But in normal market conditions, even with news fueled rallies it tends to work nicely. And you should never forget, it's a probability, not a certainty.

I did not write market analysis before, so take everything with a grain of salt. Also not a financial advice. It's just my thoughts on the market, and my hope it can give some people just another prospective. As a thumb rule I will begin my analysis from the long term (more important) to the short term.

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