BTC/USD 24 MAY โ IS A STRATEGIC CORRECTION OR A NEW RALLY AHEAD?
๐ MACRO & FUNDAMENTAL CONTEXT
Federal Reserve Outlook: Recent statements from Fed officials remain hawkish, signaling that interest rate cuts may not arrive soon. Inflation data remains sticky, adding pressure on risk-on assets like crypto in the short term.
Market Sentiment: Investors are cautious, with capital flowing back into safer assets amid global uncertainty. However, long-term sentiment on BTC remains strong, supported by fundamentals.
On-Chain Metrics: Wallet activity and hash rate growth continue to reflect strong underlying demand. This suggests accumulation despite short-term price pressure.
๐ TECHNICAL STRUCTURE (H1 CHART)
BTC/USD is currently correcting after reaching the 111,947 resistance area. Price bounced from the 106,831 support zone and is now approaching the mid-range levels again.
Chart Formation: A possible "bull trap" pattern is forming. Price may retest the 110,000 โ 111,947 supply zone before deciding the next move.
EMA Signals: Short-term EMAs have crossed downward on the H1 timeframe, indicating a weakening bullish momentum.
๐ฏ TRADE SETUPS FOR TODAY
๐ป SCALP SELL ZONE:
Entry: 111,800 โ 111,950
Stop Loss: 112,200
Targets: 110,000 โ 108,500 โ 106,800 โ 102,567
๐บ BUY ZONE (PULLBACK SUPPORT):
Entry: 106,800 โ 106,600
Stop Loss: 106,200
Targets: 107,800 โ 109,000 โ 110,000
๐ TECHNICAL KEY LEVELS
Resistance Zone: 111,947 โ 112,000
Support Zone: 106,831 โ 106,600 โ 102,567
FIBO Key Levels: 0.5 โ 109,393 | 0.382 โ 108,763
โ ๏ธ STRATEGY OUTLOOK
If BTC breaks above 112,000 with strong volume, expect a bullish continuation toward 114,000+ levels.
However, if price fails to hold above 110,000 and drops below 106,800, a deeper correction to 102,500 may follow.
๐ CONCLUSION
"BTC is at a decision point, trading between macro hawkish pressure and technical liquidity zones. Stay flexible and wait for confirmation before committing heavily."
Watch the US Jobless Claims data tonight for volatility triggers.
Avoid emotional trades. Use strict risk management.
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