I think $BTC is ready for higher grounds. If there's going to be a peace deal in the coming days in the Middle East; - $Oil goes down. - Yields go down. - Risk on assets will do well. - #bitcoin breaks above $80k+ again. - #Altcoins will have their time for the entire summer. That is likely the plan. I was concerned whether or not $BTC was able to reclaim this area of resistance, and that seems to be the case. From that point on, many charts look like they want to break upwards, and that would be putting #crypto back on the map.
I did get stopped out on that leg we had yesterday down following my long on the flat idea. But we did get a new high following the low sweep, so overall the idea was right just the entry was tight.
Waiting for new moves to enter. I do expect $78,200 to hit at some point, but keeping an eye on reversal zones
$BTC update we mentioned yesterday that sell walls were stacked around 77.6k, but bulls still defended 76k
heavy sell walls here at 77.5k are still capping price for now, but I think this gets eaten up and those marginal highs above 78.5k could get swept and trigger a push into 78.7k–79.5k
#bitcoin $BTC is getting weaker and might break into the $60Ks again.
It lost a crucial level of support, and by doing that, there's a lot of fear whether or not we'll be seeing any upwards momentum from here.
Notably, I wanted it to sustain above $75,000-76,000, but on a classic Friday afternoon correction, it lost this support area.
That has flipped the thesis slightly for me, as now, breaking back above $76,600 would be a great area for strong upwards momentum, but for now, being conservative makes a lot of sense.
On the other hand: - Corrections on Friday doesn't always align with being a consistent correction. They flip back bullish quite often. - There are multiple #CME gaps above the current price due to the weekend corrections with the highest one being at $79,100.
That said, if Bitcoin doesn't grind back upwards to $76,600+, then there's clearly no argument to assume that we're going to get into new highs and just remaining within this range.
What about altcoins?
I'd prefer to see them bounce back stronger when Bitcoin finds support. Volatility remains super high on them, that's why I'm more aggressive with the profit taking in order to hedge the volatility of my portfolio.
$BTC still looks weak after losing $76.5K Waiting for a relief bounce into $76K–$76.5K before considering shorts. Sell pressure still dominant and liquidity sits below $75K. Direction: SHORT TP1 : $75.2K TP2 : $74.8K TP3 : $73.9K SL: $77.05K Note: Best shorts usually come after the bounce, not after the dump. #Crypto #Bitcoin #BTC
$TON still looks heavy after the breakdown Watching for a relief bounce into $1.86–$1.91 before looking for shorts. Momentum still bearish and liquidity below $1.80 could get swept next. Direction: SHORT TP1 : 1.808 TP2 : 1.775 TP3 : 1.720 SL : 1.95 Note: Don’t chase panic candles let price come back into supply first. #Toncoin #TON #Telegram
$ETH still looks weak after the breakdown Watching for a retrace into $2082–$2100 before considering shorts. Momentum still bearish on 1H and liquidity below 2050 hasn’t been fully cleared yet. Direction: SHORT TP1 : $2053 TP2 : $2020 TP3 : $1980 SL : $2122 Note: Wait for the bounce into supply chasing red candles usually gives bad entries. #Ethereum #ETH #crypto