Lets get straight into the Price action.
BTCUSD (Weekly)
Price Failed to hold above the last All time high.
You can call it an SFP (Swing failure) or a fakeout.
Too early to say this is where the potential pullback can come until we see some reaction from this zone (ATH)
Trump Eu Tariff delay
Assuming this move came from Trump to delay 50% tariffs on EU until July 9. Lets not forget price also dumped under ATH when trump announced 50% tariffs on Europe. So actually nothing happened. its just trump playing around with the economy and prices.
What To Expect?
I think the daily chart will help us more to plan our next trade setups.
Since the news came right before the weekly close and traders are now chasing the market. Today is "Memorial day" holiday in US not sure if stocks will open or not. But i think its wise to give price a day or two to observe that this is just a news move or the price still have some more room to the upside.
I have two possible scenarios to play with
If price holds up here, I would not chase it for now and the reason is obvious that the move came because of the news and we have Weekly fake-out.
If the price holds up here, i think we will likely see new highs as long as it holds the previous ATH.
Pullback Scenario
A rejection from here will likely give us a pullback. into/under $100k.
This is it, Two scenarios, Whichever gives the trigger, I am ready.
