PRICE ANALYSIS #BTC☀ ON 28/05: THE DUMP ISN'T OVER — MM MIGHT SWEEP 73K BEFORE TRIGGERING A SHORT
BTC is currently around 74.3k, pressing against the demand zone of 73.2k–74.2k. My outlook for the next 24 hours: don't chase shorts at the bottom, as MM could easily push down to 73.8k–73.3k to sweep stop losses on longs and trap late shorts, before bouncing back to the FVG zone of 74.95k–75.52k.
Wait for $BTC to retrace to 74,950–75,520 then look to SHORT, with a stop loss above 76,180, TP1 at 74,150, TP2 at 73,350, and TP3 at 72,550–70,800.
BTC is still in markdown mode. If it loses 73.2k, the big target is 70.8k and then 66.8k. Only if it reclaims 78.1k–82.6k, the bearish structure will weaken.
BTC is currently around 74.3k, pressing against the demand zone of 73.2k–74.2k. My outlook for the next 24 hours: don't chase shorts at the bottom, as MM could easily push down to 73.8k–73.3k to sweep stop losses on longs and trap late shorts, before bouncing back to the FVG zone of 74.95k–75.52k.
Wait for $BTC to retrace to 74,950–75,520 then look to SHORT, with a stop loss above 76,180, TP1 at 74,150, TP2 at 73,350, and TP3 at 72,550–70,800.
BTC is still in markdown mode. If it loses 73.2k, the big target is 70.8k and then 66.8k. Only if it reclaims 78.1k–82.6k, the bearish structure will weaken.