Quick update on Bitcoin

Bitcoin is ~ 101k8xx (down ~3% in the last 24 hours)

• Currently in a correction phase after the rise since the end of May.

📊 Technical Analysis

D1 Frame

• Trend: Currently in a short-term down wave.

• Near support:

• 100k: Psychological & technical threshold

• ~98k: Previous technical bottom from April

• Near resistance:

• 105-106.500 Old distribution zone

• ~112k: Peak at the end of May

W Frame

• Last week's candle: Large red candle, no clear reversal signal yet.

• Technical structure: In the accumulation phase after a strong rise.

If this week's candle closes above 103k, it may create a slight reversal setup for next week.

M Frame

• May: Closed with a red candle, unable to hold the 110k area as expected.

• June: Starting with selling pressure, but it is too early to conclude.

• Monthly scenarios:

• Increase: If it holds 100k and breaks 112k

• Decrease: If it breaks 98k, it will go back to 93k – 95k (there is still a GAP in the 90-91kxxx area)

News affecting BTC:

Positive: Trump Media proposes ETF, Circle IPO reinforces market confidence

• Negative: ETF capital inflow is slow, FED keeps interest rates high

Positive scenario:

• If it maintains the 100k mark → BTC could recover to 105-107k next week.

• If there is good news from the FED (may “pivot” sooner than expected), the price could rise to 115-120k

Negative scenario:

• If it loses the 98k mark → Will test back to 93k – 95k.

• Negative news from ETF, stablecoin, or US regulation could cause the market to drop significantly.

✅ Summary

• The market is undergoing a healthy correction after a hot rally.

• The 100k area is BTC's “death zone” at the moment.

• Prioritize defensive strategies, patiently observe price behavior in the 98k–100k area before buying back.

Crypto God of Wealth