$BTC Analysis + Signal 💸📢
1. Since our range deviation below $60k, price was able to make its way back to range
highs as we got the ETF news this week. Bitcoin made its way to the $71400 level before
finding resistance. We’re currently waiting for more developments on the ETF, but for
this week I do expect a major move into range highs, potentially forming a new ATH, but
no major breakout out of this range. For this summer, I do not think we will begin a
major run until later in July or August.
2. Now that the Halving is in, focus your power on any upcoming uptrends. It won’t be
anything instant but it could take weeks to month to begin really pushing. These uptrends
will be a lot more violent, and pullbacks will be too.
3. My main scenarios for this week:
1) Look for a move into range highs as price reclaims $70k, a strong reclaim of $70k
could lead us to major levels at $71400 and $73600. The $75k level could be used
as a major psychological level if we step out of the range, forming a potential
deviation. Speculative to say but this top could align with the the ETH ETF
rebalancing with Grayscale, which will bring selling pressure.
2) If price consistently stays below the November 2021 ATH at $69200, then expect
a breakdown of $67000 and a move towards $64850 and $62500. This would
mostly invalidate the recent breakout and will let us consolidate more within this
macro range.
5. I will be updating the charts and scenarios through the daily watchlists.
#ETHETFsApproved #FIT21 #EarnFreeCrypto2024 #btc70k #ANALYSIS