Results of the week ๐
Last week bitcoin and ethereum generally followed the forecast that I voiced back on May 5.ย
Bitcoin in case of breakdown of 100 move towards 105K (low supply zone).ย
Efirium surprised and gave an entry point when breaking the 1850 zone, as a result the price reached 2700 for the first time since February.
ETF ๐ฐ
Bottom line:
* Bitcoin spot ETF: +608.4 million dollars
* Ethereum spot ETF: +$41.8 million
Bitcoin continues to be a liquidity magnet and the trend continues.
Onchain metrics ๐
Ethereum is seeing increased withdrawals from CEX exchanges. Which indirectly confirms the accumulation of position by large market participants.ย
Reserves of exchanges are at historic lows.ย
Liquidation zones ๐จ
For bitcoin, the important reversal zones on the liquidation maps are: from below - 99,500, from above - 106,000. The breakdown of these levels can accelerate the price movement โก.ย
In ethereum, the key zones are: from below - 2300, from above - 2550. Their breakdown can also significantly strengthen the dynamics ๐.
Macroeconomics ๐
Markets may react to data on military action, including risks of conflict between India and Pakistan ๐ฅ. The impact of US tariff policy, especially on China, remains. A lower TGA balance sheet over the summer will also have a significant impact on risk assets ๐.
Macro statistics ๐
Key macro data will be released on Thursday and could impact volatility ๐.
Forecast ๐ฎ
Efirium has hit strong resistance 2500-2800, correction may continue and trend reset zone 2100-2000 where price may come down, it will be a good zone to buy. The next zone is 1800, from where the last run started, but now it is unlikely.ย
Bitcoin is in a local sidewall, the breakdown of which will show the direction for the local trend.ย
In such conditions, making any predictions is like flipping a coin. The most interesting trade from the boundaries of the sidewall - breakdowns, false breakdowns.ย
In case of a breakdown of the sidewall, there is strong support around 98-100K.
