BTC ANALYSIS 06/01

* On the D1 timeframe: The last 02 weekend days, BTC's volatility has slowed down, forming 02 candles with very narrow ranges. They are completely within the body of the previous candle (Friday), creating an Insider bar candle pattern that reflects the situation of price compression and accumulation, with decreasing volume confirming this.

- Currently, BTC is approaching the upper boundary of the trading range in the price area of 99-100k. This is a confluence resistance zone (Previous high + psychological level of 100k), and buying power is gradually weakening as it approaches this zone. Therefore, in my view, the price range of 99-100k will temporarily hold up the price, and BTC is likely to adjust to the range of 94-96k before breaking out of the trading range upwards.

* Assessment of Total3 (Total market capitalization of Crypto excluding BTC and ETH)

- Total 3 has confirmed an upward trend on the D1 timeframe by creating a higher high and higher low structure and forming an upward price channel. However, Total 3 is currently approaching a confluence resistance zone (Upper Bollinger band + Upper price channel). Therefore, in the short term, Total 3 is likely to have a correction before continuing the upward trend.

* Trading idea: Wait for a sell signal to come back to short BTC around the 99k area, expecting BTC to drop to the 94-96k range.