6.16 Market Analysis
First, establish the trend and clarify the direction of your current position, finding the aspect with a higher probability of success.
Currently, the likely position of BTC is: a corrective continuation in a downward oscillation of the third wave.
This perspective is from the daily and weekly timeframes, not from the four-hour or lower timeframes; different timeframes may indicate different directions, and readers should be aware of this.
Although it is likely a third-wave corrective continuation, the current position of BTC at 1,057,000 is not the optimal entry point for shorts, as the safe defensive position for shorts is above 1,084,000, which is still a considerable distance away.
At the same time, it is important to understand that from the monthly perspective, it is currently just a downward oscillation, not an end to an uptrend. After this pullback, new highs are expected, so during the adjustment, it does not affect the entry for spot trading.
Optimistic about the spot market in the second half of the year.
