😱😱
$BTC CORRECTION CONFIRMED & UNDERWAY 🚨🚨🚨
RECAP :
🫡SINCE PAST WEEK, FAM I KEPT YOU INFORMED WHEN BTC WAS AT 110K-113K & WAS MAKING INVERSE HEAD AND SHOULDERS THAT IT WAS GOING TO BE A MASSIVE BULLISH PUSH— DUE TO HEAVY ACCUMULATION WHICH STARTED FROM 107K.
HOPE YOU HAD JOINED THE RIDE. 🤝🔥🙏
👉 YESTERDAY, I SAID IT WAS MAKING EXPANDING TRIANGLE & HAS BEARISHLY BROKEN OUT AT 115.8K, SINCE THEN BULLS HAS FAILED TO RECLAIM BULLISH STATUS.
✅️ I ALSO INFORMED ABOUT POTENTIAL RETRACEMENT OR CORRECTION TOWARDS 113K LEVEL. 📉😬
DON'T WORRY WORLD IS NOT FALLING APART YET.😂
💥BEARISH MACRO DEVELOPMENT :
1️⃣ TRUMP TWEETED SANCTIONS FOR RUSSIA & TARIFFS ON CHINA — GLOBAL TRADE TENSION ESCALATION. 😱😱
2️⃣ COIN TELEGRAPH REPORTED 8 OUT OF 10 INDICATORS ARE NOW BEARISH, ALARMING THAT WHEN THIS HAPPENED IN APRIL, PRICE TANKED TO 78K.
TECHNICAL ANALYSIS :
After breakout of inverse head & shoulders, price quickly climbed up from 113K to 116K without a proper retracement to retest previously broken resistance. This left us with fair value gap or FVG.
On the chart now, we have head & shoulders chart pattern forming & neckline rests at around 115,100. We already see bearish sentiments developing as bulls are hesitant to push the price on the upside.
If we see this neckline break, we could potentially see a drop towards lower support areas for relief.
MY BEARISH SETUP
(IF NECKLINE BREAKS, H&S CONFIRMED) :
ENTRY ZONE : 115,000-115,100.
TP1 : 114,700
TP2 : 114,200
TP3 : 113,500
SL : 116,300-116,550.
Time : 1-3 Days
✅️ This is a healthy correction & it will lead us directly into the buyback zone. Until then we may have positve macro news that could reignite sentiments & we may see positive shift for fresh new highs. 🔥🚀
However Monday opening of the market will be the final judge of true momentum or direction. 💯
⚠️ Nothing is guaranteed in crypto.
This is my personal analysis and opinion — not financial advice. 🫡
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$BTC DYOR
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