2024/06/03 $BTC Market Analysis

1.

Similar to the previous few days, with a small triangle and POC.

There is a lot of support here. In addition to the daily supply and demand exchange area, the rising trend line and the third wave 0.618, as the triangle oscillates, the POC gradually overlaps with the third wave 0.618.

If there is no accident here, it will go up soon. If it goes up directly here, there is a certain probability that the final target will fall directly around 80,000.

2.

But you know, I usually think about how I die.

Here, I think the most likely place to go down is the overlap of the lower 0.382 + supply and demand range + imbalance zone. If there is a market crash, then this trend is what I am most happy to see. It does not break the structure (B2S) and gives us the opportunity to increase our positions.

To be honest, the probability of going up directly is relatively high, mainly because the support here is too strong. Since Bitcoin has been in an upward cycle, I don't think it's a good idea to go against the trend and bet on a pullback. If it goes down, I will choose to increase my position in the altcoin when Bitcoin reaches the point I mentioned.

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