Price has finished it's move up to new ATHs, and looks to be starting a ABC correction to anywhere from 92k->100k. RSI on Daily is sitting near overbought - This has confluence with the potential for a correction starting. (Overbought doesnt mean the price cannot go up more, it can, but it is worth noting). Taking a fib retracement from 74k to 112, i've marked out all fib levels [RED] & Short term fib from 104k->112k = [Yellow].
Long Entryš: An entry zone for a long, could be in the green box around the [Red] .618 fib OR below/inside the liquidation zone of 90k-92k. Patience will be key here - Discretion is required here as well.
Short Entry š»: Look for shorts after a bounce up from the monthly green support line - Look on low time frames for confirmation, if this does happen - Or wait for a breakdown of the trendline, and for price to retest it after going below, or be a degenerate and take a short, right now. Stop placements should be obvious - Above ATHs, give it some room to breathe, if you enter now
This doesn't mean the bull run is over. Corrections are natural, and is a good sign for further price increases.
2)BULL: Impulsive 1-2 up š
Another outlook is the more bullish one, which leans more on the fact that retail trades are entering the markets again after new ATHs and news events, this could cause price surges to make another ATH in the coming weeks. We could still see a small drop below the monthly trendline, to the local [yellow] fibs .236. This would be and impulse 1-2 Elliot wave setup. Discression is adviced here, as it could very well also be the .5 fib that causes a bounce up. This scenario seems less likely in my opinion, but this is worth considering.
Long Entry š: Entries for long here would be between 100k to 103k (Edit: 105.5k Also a good area)
Short Entry š»: See above -> 105k TP
Ideally, i would like to see price just keeps going up forever. But gotta be realistic.
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104.2k is also potential reversal area - you could long from here.. I've seen a report saying that this could be a first potential area for a reversal - Personally i'm not so sure.
operator93
--
Greeting.
If you followed my thought from my post from the 26th of May, and shorted the market, either when i wrote the post, or on the retest of the monthly trendline, you'd have hit TP by now, which was 105k. Cheers.
Now what? Now that $BTC C has liquidated a lot of long traders at around 105k, my take is that we're likely going to see slightly more downside - Another 4-5% down on BTC from here.
Why do i think that? Before this drop, $BTC had just made a golden cross - Last time this happened (November 2024) BTC saw a 10% decline before rocketing up šI think it's very probable, that this will be the case again. Keep in mind.. It doesn't have to do 10%.. But thats what it did last time..
This 10% drop coincides with the 100k-102k level, i also wrote this as a potential target on May 26th.
š I'm personally targeting this area for a long entry, but i am currently also long from 104.8k - Expecting this liquidity sweep over recent local highs. If its gets there and looks weak, im going to close for a small profit and flip short.
From the current 112k peak to the lows, as of writing this, btc has dropped about 6-7%.
Timing: The "LOW" is probably gonna be for next week - This week and weekend are likely to be consolidation with a downward slant. June 6th -> June 9th would be my estimate on timing for a low. But beware of weekend manipulation / low volume.
So more pain is likely coming šš
Short Term: I could see a liquidity sweep above the local highs at 106.2k -> 106.5k - To clear out shorts.
Shortš»: So if you're feeling edgy - This could be an entry zone, with a TP of 100k-102k
Long š:
I dont really see a potential setup until 100k-102k
One could be aggressive and take a long from 104.8k, which i took when i saw it - Definetely not an "A+" setup. I need to get better at waiting - But the current zone seemed like a good B+ setup, that alligned with what i think is happening in the ultra short term.
I hope this analysis provides something you can use, and remember, i am not financial advisor, just a random guy š
If you're short - take some profit now - 40-50%, let the rest rideš°š¤
operator93
--
Greeting.
If you followed my thought from my post from the 26th of May, and shorted the market, either when i wrote the post, or on the retest of the monthly trendline, you'd have hit TP by now, which was 105k. Cheers.
Now what? Now that $BTC C has liquidated a lot of long traders at around 105k, my take is that we're likely going to see slightly more downside - Another 4-5% down on BTC from here.
Why do i think that? Before this drop, $BTC had just made a golden cross - Last time this happened (November 2024) BTC saw a 10% decline before rocketing up šI think it's very probable, that this will be the case again. Keep in mind.. It doesn't have to do 10%.. But thats what it did last time..
This 10% drop coincides with the 100k-102k level, i also wrote this as a potential target on May 26th.
š I'm personally targeting this area for a long entry, but i am currently also long from 104.8k - Expecting this liquidity sweep over recent local highs. If its gets there and looks weak, im going to close for a small profit and flip short.
From the current 112k peak to the lows, as of writing this, btc has dropped about 6-7%.
Timing: The "LOW" is probably gonna be for next week - This week and weekend are likely to be consolidation with a downward slant. June 6th -> June 9th would be my estimate on timing for a low. But beware of weekend manipulation / low volume.
So more pain is likely coming šš
Short Term: I could see a liquidity sweep above the local highs at 106.2k -> 106.5k - To clear out shorts.
Shortš»: So if you're feeling edgy - This could be an entry zone, with a TP of 100k-102k
Long š:
I dont really see a potential setup until 100k-102k
One could be aggressive and take a long from 104.8k, which i took when i saw it - Definetely not an "A+" setup. I need to get better at waiting - But the current zone seemed like a good B+ setup, that alligned with what i think is happening in the ultra short term.
I hope this analysis provides something you can use, and remember, i am not financial advisor, just a random guy š
If you followed my thought from my post from the 26th of May, and shorted the market, either when i wrote the post, or on the retest of the monthly trendline, you'd have hit TP by now, which was 105k. Cheers.
Now what? Now that $BTC C has liquidated a lot of long traders at around 105k, my take is that we're likely going to see slightly more downside - Another 4-5% down on BTC from here.
Why do i think that? Before this drop, $BTC had just made a golden cross - Last time this happened (November 2024) BTC saw a 10% decline before rocketing up šI think it's very probable, that this will be the case again. Keep in mind.. It doesn't have to do 10%.. But thats what it did last time..
This 10% drop coincides with the 100k-102k level, i also wrote this as a potential target on May 26th.
š I'm personally targeting this area for a long entry, but i am currently also long from 104.8k - Expecting this liquidity sweep over recent local highs. If its gets there and looks weak, im going to close for a small profit and flip short.
From the current 112k peak to the lows, as of writing this, btc has dropped about 6-7%.
Timing: The "LOW" is probably gonna be for next week - This week and weekend are likely to be consolidation with a downward slant. June 6th -> June 9th would be my estimate on timing for a low. But beware of weekend manipulation / low volume.
So more pain is likely coming šš
Short Term: I could see a liquidity sweep above the local highs at 106.2k -> 106.5k - To clear out shorts.
Shortš»: So if you're feeling edgy - This could be an entry zone, with a TP of 100k-102k
Long š:
I dont really see a potential setup until 100k-102k
One could be aggressive and take a long from 104.8k, which i took when i saw it - Definetely not an "A+" setup. I need to get better at waiting - But the current zone seemed like a good B+ setup, that alligned with what i think is happening in the ultra short term.
I hope this analysis provides something you can use, and remember, i am not financial advisor, just a random guy š
You could long now, as we are at the monthly trendline.
Im concidering it.
operator93
--
Greetings.
Currently for $BTC i see two scenarios.
1)BEAR: The Corrective Scenario š»
Price has finished it's move up to new ATHs, and looks to be starting a ABC correction to anywhere from 92k->100k. RSI on Daily is sitting near overbought - This has confluence with the potential for a correction starting. (Overbought doesnt mean the price cannot go up more, it can, but it is worth noting). Taking a fib retracement from 74k to 112, i've marked out all fib levels [RED] & Short term fib from 104k->112k = [Yellow].
Long Entryš: An entry zone for a long, could be in the green box around the [Red] .618 fib OR below/inside the liquidation zone of 90k-92k. Patience will be key here - Discretion is required here as well.
Short Entry š»: Look for shorts after a bounce up from the monthly green support line - Look on low time frames for confirmation, if this does happen - Or wait for a breakdown of the trendline, and for price to retest it after going below, or be a degenerate and take a short, right now. Stop placements should be obvious - Above ATHs, give it some room to breathe, if you enter now
This doesn't mean the bull run is over. Corrections are natural, and is a good sign for further price increases.
2)BULL: Impulsive 1-2 up š
Another outlook is the more bullish one, which leans more on the fact that retail trades are entering the markets again after new ATHs and news events, this could cause price surges to make another ATH in the coming weeks. We could still see a small drop below the monthly trendline, to the local [yellow] fibs .236. This would be and impulse 1-2 Elliot wave setup. Discression is adviced here, as it could very well also be the .5 fib that causes a bounce up. This scenario seems less likely in my opinion, but this is worth considering.
Long Entry š: Entries for long here would be between 100k to 103k (Edit: 105.5k Also a good area)
Short Entry š»: See above -> 105k TP
Ideally, i would like to see price just keeps going up forever. But gotta be realistic.
The analysis i posted yestoday, is nearing what would determine to be an invalidation area. Not invalidated yet, but getting close.
Currently $BTC is sweeping over yestodays highs at 110.4k š§¹
If price doesn't begin to retrace down again after this move, then assume a new ATH is in the cards very soon and my thesis would be invalidated - Untill price makes a new ATH, i think the idea is still in play.
Yestodays hedged my $BTC short with an $ENA Long taken at 20:10 yestoday, where i took some profit earlier todayš°
... and i'd also like to note, that in the comments of my post yestoday, i gave the FVG area as a potential long entry - Which would have played out nicely, if you were so inclined.. That would have been a great short term trade.
Note: The move down from 112k could be counted as a 1->5 Elliot wave, and currently we are sitting in and ABC correction upward - Which could indicate that my thesis is still correct, but just slightly off
And if i do happen to be wrong on this one.. Then it doesn't really matter, because you win some, you lose some, that's the name of the game, and admitting when you're wrong is key.
Absolutely, which is why thinking in probabilities, and always considering both options is key.
TP Int
--
Yes @BTC is playing a tough game. It's very hard to assume the price, even if you can see 500k after walk up at morning that's normal too. BTC lost it's norms
Short term Longs entry zones: Bullish order Block @109.4k -> 109.6k or @109k->109.5k, or recent Fair value gap @107.8k to 108.4k. Look at small time frames for strength
operator93
--
Greetings.
Currently for $BTC i see two scenarios.
1)BEAR: The Corrective Scenario š»
Price has finished it's move up to new ATHs, and looks to be starting a ABC correction to anywhere from 92k->100k. RSI on Daily is sitting near overbought - This has confluence with the potential for a correction starting. (Overbought doesnt mean the price cannot go up more, it can, but it is worth noting). Taking a fib retracement from 74k to 112, i've marked out all fib levels [RED] & Short term fib from 104k->112k = [Yellow].
Long Entryš: An entry zone for a long, could be in the green box around the [Red] .618 fib OR below/inside the liquidation zone of 90k-92k. Patience will be key here - Discretion is required here as well.
Short Entry š»: Look for shorts after a bounce up from the monthly green support line - Look on low time frames for confirmation, if this does happen - Or wait for a breakdown of the trendline, and for price to retest it after going below, or be a degenerate and take a short, right now. Stop placements should be obvious - Above ATHs, give it some room to breathe, if you enter now
This doesn't mean the bull run is over. Corrections are natural, and is a good sign for further price increases.
2)BULL: Impulsive 1-2 up š
Another outlook is the more bullish one, which leans more on the fact that retail trades are entering the markets again after new ATHs and news events, this could cause price surges to make another ATH in the coming weeks. We could still see a small drop below the monthly trendline, to the local [yellow] fibs .236. This would be and impulse 1-2 Elliot wave setup. Discression is adviced here, as it could very well also be the .5 fib that causes a bounce up. This scenario seems less likely in my opinion, but this is worth considering.
Long Entry š: Entries for long here would be between 100k to 103k (Edit: 105.5k Also a good area)
Short Entry š»: See above -> 105k TP
Ideally, i would like to see price just keeps going up forever. But gotta be realistic.
Calling trend continuation is nothing special. Unless markets flip exactly when you post, you'd always be right.
Try calling a reversal point instead.
Ahsan LLC
--
Don't invest now, it's not the time to invest, follow me, I will give you a very good signal. You can check my previous posts, what I said happened exactly as it happened.$SOL $ETH you can check my 2 signal
105k -> Liquidation level + Trendline = Probable. 100k -> Psychological level + Important retest = Would form a lower low, scaring off investors while smart money loads up. A drop is very likely
The Crypto Jack
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Bearish
BTC
Retest of the uptrendline in progress. Hold it and pump otherwise things will turn alot bearish.