As I previously stated in my 
OTHERS, 
BTC.D, and TOTAL2 analysis — this move was expected. Check out my other ideas for more detailed breakdowns.
So, what’s happening?
Bitcoin maximalists have been buying heavily at the top, right when RSI and MACD were in overbought territory, creating a clear bearish divergence.
Something Saylor and others seem to ignore: you can't defy mathematics — what needs a correction will correct.
BTC still looks bullish on the weekly timeframe, so we’re not entering a bear market. However, the pump is over, key supports have broken, and altcoins are correcting — some by -25% in a single day.
Purely from a charting perspective, we can identify multiple potential support levels forBTC:
$101K, $94K, $89K, $87K, with a lower-probability retest down to $75K.
We’re likely entering a 2-week correction, after whichBTC could resume its uptrend — potentially closing June at a new all-time high.
DYOR.
#Bitcoin #BTC #Altcoins #CryptoCrash #TechnicalAnalysis #BTCdominance #TOTAL2 #BearishDivergence #Saylor #RSI #MACD #ATH #DYOR
OTHERS, BTC.D, and TOTAL2 analysis — this move was expected. Check out my other ideas for more detailed breakdowns.So, what’s happening?
Bitcoin maximalists have been buying heavily at the top, right when RSI and MACD were in overbought territory, creating a clear bearish divergence.
Something Saylor and others seem to ignore: you can't defy mathematics — what needs a correction will correct.
BTC still looks bullish on the weekly timeframe, so we’re not entering a bear market. However, the pump is over, key supports have broken, and altcoins are correcting — some by -25% in a single day.Purely from a charting perspective, we can identify multiple potential support levels for
BTC:$101K, $94K, $89K, $87K, with a lower-probability retest down to $75K.
We’re likely entering a 2-week correction, after which
BTC could resume its uptrend — potentially closing June at a new all-time high.DYOR.
#Bitcoin #BTC #Altcoins #CryptoCrash #TechnicalAnalysis #BTCdominance #TOTAL2 #BearishDivergence #Saylor #RSI #MACD #ATH #DYOR
Trade active
Bitcoin reached our first target. We are on track. Let see if the bulls will take control again, or if we go below to the next target that is 94k-95k
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.