$BTC Market Outlook ๐
My overall view on the market hasn't changed.
As I mentioned earlier, Bitcoin seems to have priced in the quantitative easing narrative ahead of time, and the June 16โ17 timeline played out pretty much as expected.
Right now, most of the upside liquidity has already been taken, while downside liquidity continues to build. Because of that, I believe $BTC could move lower in the coming weeks.
My first target is the $61Kโ$62K zone, which could be a good area for short traders to take some profits. Personally, I'm watching the low-$50K range more closely, where I plan to fully close shorts and start accumulating long positions for the next major rally.
The recent rejection around $67.3K supports this bearish outlook, and I still see the possibility of a 20โ25% correction from the recent lower high.
My ideal bottoming range remains between $49K and $55K. That's where I expect to shift from profit-taking on shorts to building long-term positions.
For now, my plan remains simple:
๐ Lower before higher.
๐ The final shakeout before the next bull run.
#FedHawkishDotPlotFlattensYieldCurve #SaudiSupertankersBeginCrossingStraitOfHormuz #TrumpAnnouncesUS10%IntelStake #WLDGainsOver50%In7Days #Fed4thConsecutiveRateHold
Tap below to take a trade now on BTC:
My overall view on the market hasn't changed.
As I mentioned earlier, Bitcoin seems to have priced in the quantitative easing narrative ahead of time, and the June 16โ17 timeline played out pretty much as expected.
Right now, most of the upside liquidity has already been taken, while downside liquidity continues to build. Because of that, I believe $BTC could move lower in the coming weeks.
My first target is the $61Kโ$62K zone, which could be a good area for short traders to take some profits. Personally, I'm watching the low-$50K range more closely, where I plan to fully close shorts and start accumulating long positions for the next major rally.
The recent rejection around $67.3K supports this bearish outlook, and I still see the possibility of a 20โ25% correction from the recent lower high.
My ideal bottoming range remains between $49K and $55K. That's where I expect to shift from profit-taking on shorts to building long-term positions.
For now, my plan remains simple:
๐ Lower before higher.
๐ The final shakeout before the next bull run.
#FedHawkishDotPlotFlattensYieldCurve #SaudiSupertankersBeginCrossingStraitOfHormuz #TrumpAnnouncesUS10%IntelStake #WLDGainsOver50%In7Days #Fed4thConsecutiveRateHold
Tap below to take a trade now on BTC: