🟡Update #BTC May 6
- Weekly T-F: BTC closes the weekly candle, creating a bullish hammer candle with a fairly long candlestick when it touches the 57k area, showing that the support of this price range is quite good, but this 1 candle does not confirm the changing trend of BTC, I need Observe 2-3 more candles next week.
- Back to last April's candle, last week's candle was not really strong enough, acting as a slight rebound for the whole market.
- Daily T-F: BTC creates a falling dow when forming a higher low- lower low and to break this down structure, candle D must break through the 67k area. Haven't seen a bottom divergence yet
- The 24h spot trading volume of the entire market is quite low, around 20-30B, so liquidity mostly moves between trends and does not increase uniformly around RWAs => AI => Depin => Meme
- Total 3: Create beautiful consecutive candlesticks, there will be another 10-15% increase in alts and total 3 will touch 700B then fall again.
📌 Currently in this quarter there are quite a few launching and airdrop projects and will absorb liquidity in this period. I still keep the plan that in the medium term BTC will adjust back to the 57k => 52K area and Total 3 touches the 400-460B area. In this part, I will wait for Alts to recover another 10-15%, then I will close all the scalp trading piles and keep USDT and USDC until I find a hodl entry.
Short #BTC
Entry: around 67k
Candle D closes above 67k2
TP: depends on your mouth