📌 BTC 30/6 - This week is not easy to breathe...
Today, BTC is still moving quite uncomfortably, continuing to hover around the 59k-60k zone. After a sweep down to 58k, the price hasn’t fully broken down, but the rebound force isn’t strong enough to confirm a clean return to an uptrend.
From a technical analysis (PTKT) perspective, the larger timeframes from 1D to 1M are all in agreement: “FULL DECLINE.” Therefore, any rebound should still be viewed as a bounce within a weaker trend beforehand.
My personal macro outlook for this week:
BTC isn’t weak because of a single bad news story; it’s weak due to a lack of fresh buying power. The ETF has still been seeing outflows, short-term holders are still selling at a loss, and macro conditions continue to revolve around whether US interest rates will remain kept high or not.
If employment data remains strong, the market will interpret that the Fed doesn’t need to loosen policy yet. In that case, BTC is unlikely to surge strongly because large money is still in defensive mode. Conversely, if jobs weaken but not too badly, BTC could benefit from expectations that rate cuts may return.
📈 Current strategy:
I don’t really like going LONG right now, because resistance at 60k8 has been tested again 4-5 times, and the price has stayed below that zone for 4-5 days. That indicates the buying pressure isn’t strong enough to break upward.
The SHORT scenario is still preferred. Stop-loss could be considered above 61k2 or wider above 62k2, since the D-W-M frames still support the decline. The near-term feasible take-profit is the area below 55k-56k.
👉 Main view: If BTC holds 58k8-59k, there’s still room for a rebound. If it loses this zone, then it’s cooked.
Wishing everyone an effective trading and working day 💰🔥!
This evening I’ll still be live at 15:00 and 20:00. If you haven’t joined my group chat yet, check the pinned post at the top!
Today, BTC is still moving quite uncomfortably, continuing to hover around the 59k-60k zone. After a sweep down to 58k, the price hasn’t fully broken down, but the rebound force isn’t strong enough to confirm a clean return to an uptrend.
From a technical analysis (PTKT) perspective, the larger timeframes from 1D to 1M are all in agreement: “FULL DECLINE.” Therefore, any rebound should still be viewed as a bounce within a weaker trend beforehand.
My personal macro outlook for this week:
BTC isn’t weak because of a single bad news story; it’s weak due to a lack of fresh buying power. The ETF has still been seeing outflows, short-term holders are still selling at a loss, and macro conditions continue to revolve around whether US interest rates will remain kept high or not.
If employment data remains strong, the market will interpret that the Fed doesn’t need to loosen policy yet. In that case, BTC is unlikely to surge strongly because large money is still in defensive mode. Conversely, if jobs weaken but not too badly, BTC could benefit from expectations that rate cuts may return.
📈 Current strategy:
I don’t really like going LONG right now, because resistance at 60k8 has been tested again 4-5 times, and the price has stayed below that zone for 4-5 days. That indicates the buying pressure isn’t strong enough to break upward.
The SHORT scenario is still preferred. Stop-loss could be considered above 61k2 or wider above 62k2, since the D-W-M frames still support the decline. The near-term feasible take-profit is the area below 55k-56k.
👉 Main view: If BTC holds 58k8-59k, there’s still room for a rebound. If it loses this zone, then it’s cooked.
Wishing everyone an effective trading and working day 💰🔥!
This evening I’ll still be live at 15:00 and 20:00. If you haven’t joined my group chat yet, check the pinned post at the top!