Since last night, the BTC rate has been correcting, slowly working off the forecast. In the evening we wrote:

‘... Locally there is an expectation of a correction or range for #BTC for the remainder of the day. Because there are three marks of a potential high on the 30-minute and 2-hour timeframes, as well as one mark on the 3-hour timeframe...’

Indeed, such a noticeable correction was not what we wanted to see. But this was allowed during the night. Because a Strong signal of a potential high appeared on the hourly timeframe. We reported this and showed how the Strong signal of highs/lows performed on the hourly timeframe from June 6 according to our indicator.

There are currently no confident signals for the asset's growth. Moreover, in this hour, the price has returned to a stable downtrend on the hourly timeframe. With still unfulfilled targets of $105,864 and $105,311.

We already have the sixth consecutive red hourly candle after the overnight growth, which we also warned about in the chat. But the bulls could not develop it into a V-shaped reversal.

Currently, a number of EMAs are important for the price:

- EMA 50 of the 3-hour timeframe at $106,445.

- EMA 50 of the 4-hour timeframe at $106,426.

- EMA 200 of the hourly timeframe at $106,407.

- EMA 50 of the 6-hour timeframe at $106,358.

- EMA 50 of the 8-hour timeframe at $106,272.

- EMA 200 of the 2-hour timeframe at $106,214.

- EMA 50 of the 12-hour timeframe at $105,713.

The key right now is precisely the EMA 50 of the 12-hour timeframe at $105,713. It cannot be lost; we need to close above it with the body of the candle.

There has already been a breach of some support levels, but consolidation is important. If, upon breaking a larger part of these moving averages, the price only slightly updates today's low of $106,115 and then breaks the trend line from yesterday's high of $108,952 - there are chances for a ‘Dragon’ with targets of $107,771 and $108,952. But for now, this scenario has too many ‘ifs’. And according to our indicator, the situation for forming and working off the pattern does not look very promising.

Our #futures_trade as part of an experiment with 125 leverage is currently up by a modest 116%. At a rate of $108,952, it was around +400%. In fact - we would have closed it with the overnight Strong signal of a high if it weren't for one thing. We continue to wait for the BUY signal from the Hash Ribbons indicator to materialize. Therefore, in this trade, the stop is placed in positive breakeven at a rate of $105,413. There remains a possibility that it won't be reached. But the situation is shaky.