Bitcoin Daily: It Will Go Lower, I Will Explain Why

7 hari lalu

It is hard to make these predictions because there are so many different points of view, so many opinions. There is so much data available that one can easily become confused. We can write an entire book about Bitcoin's next move and still not know what will happen next. I will keep it simple and straight forward and you will be able to understand and appreciate how easy it is when we focus on the chart only. Bitcoin is breaking below 100K.

Bitcoin is already trading at support. The mid-May consolidation range. From this range Bitcoin produced an advance and hit a new all-time high. The all-time high is a triple-top when we take the highs from January 2025 and December 2024. The fact that the action happens below this level now is bearish and this range has been confirmed as resistance.

The market will look for strength and this simply means lower.

Since resistance has been confirmed after a 50% rise, it is normal to see a retrace, can be medium-sized to balance out the strong-long bullish wave. Bullish action was present between 7-April until 22-May, 45 days.

The current retrace can take only a few weeks, think about 15-21 June as a rough estimate but nothing more (can end much sooner).

If you are unprepared and don't have map of the bigger picture, this can become terrifying and even lead to poor decisions at some point. If you know that this is only a retrace and the market will continue growing after a test above 90K, you can rest easy or even take advantage of this situation.

Now, what Bitcoin does is not the entire market. In a bull market, when Bitcoin moves down, money flows to the Altcoins. When Bitcoin goes sideways, the Altcoins grow. So dynamics will be much, much different now compared to what you saw in 2024, 2023 and 2022. The way the market will behave it is basically new for most participants.

The conclusion is that all is good and the chart is pointing lower short-term. After a short-term retrace, we get additional growth. Simple isn't it? It is...

Thank you for reading.

Namaste.

7 hari lalu

Nota

My view of the market is definitely bullish, you can visit my profile and focus on the altcoins to see what I mean. The change in dynamics is meant to get the support of the trolls. With the trolls, we can get more interactions and engagement, it is more fun. I hope you understand. We are in the 2025 bull market and will experience growth long-term.

Namaste.

7 hari lalu

Nota

This retrace can be SHORTed, below you can find the full trade-numbers:

SHORT Bitcoin 10X Lev. Full PREMIUM Trade-Numbers (PP: 175.6%)

6 hari lalu

Dagangan aktif

Bitcoin short-term update

4H chart:

We have a rejection. Bitcoin tried to move higher and was rejected on two sessions.
1 June 8:00 pm & 2 June 8:00 am

This can lead to a bearish continuation. Bitcoin is now set to test the $100,000 - $102,000 price range as support. This is based on short-term price action and the chart above. Mainly candlestick reading.

There is more, look at the moving averages. EMA55 and EMA89, confirmed as resistance.

So it is going lower unless it moves higher and it isn't moving higher because resistance has been confirmed. Since it already drop from a triple-top you already know what this means.

Nothing big though, just a retrace. Very common, normal, because Bitcoin grew 50% in less than two months. After such strong growth, it is normal to see a retrace before the next leg up.

Patience is key.

Thanks a lot for your continued support.

You can SHORT this chart setup.

Namaste.

6 hari lalu

Nota

Bitcoin is ultra-bullish above $100,000.
Remember this.

NEVER SHORT BITCOIN IN A BULL MARKET.
It is a recipe for disaster. Buy and hold.