BTC to retest support at 67k

9 thg 6

After the completion of the 5th EW and then the immediate dump off of 72k resistance, I expect the pattern to continue and complete the final c off of 67k support. If it breaks this support I expect it to fall back down to the next support of 65k with a strong bounce

9 thg 6

Ghi chú

I should note I do not actively trade BTC I only hold spot

I trade alts based of off BTC PA

I have stabled around 25% of my alt portfolio as I expect them to get hit with a BTC retest of 67k

I will look to deploy the stables after a strong completion of the c wave over 71k

9 thg 6

Ghi chú

also please feel free to provide commentary or alternative views

GLFH

11 thg 6

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volume has finally picked back up ... pushing the 67k support heading into FOMC ... will we get a test back to resistance or push lower?

4h RSI is cooked ... currently tapping 30 ... on the 1 day its pushing below 50 into bear territory

alts have taken a huge hit already ... total3 back to Oct 23 levels

it seems this 1 day RSI is important to monitor. we need a strong bounce off of 67k support and back to 69k with a push toward 72k

11 thg 6

Ghi chú

price is clearly in a down trend. bulls have lost control.

4hr RSI is still getting hammered and is now below 30. 1d RSI has dipped below the 50 into bearish territory. PA is trending toward the 65.5 support. after that were looking at 64k. I would suspect seeing some small relief periodically, but wouldn't be eager to re-enter until we show a strong change in direction. 69k may be the bull trap area. 71.5k is a confident place im looking to target to start re-entering alt plays.

11 thg 6

Ghi chú

the 'trade active' was a mistake. i have no 'active trades' beside spot as mentioned in my first few posts.