Last week, BTC ETF saw net inflows of nearly $2 billion; Coinbase’s premium turned green; retail investors shifted from panic selling to stepping in to buy; and the market was driven jointly by a short squeeze plus spot capital inflows.
Weekly BTC (the “big pie”) outlook: Last week closed with a strong bullish long white candle—one yang candle broke through multiple prior yin candles, forming a bullish “gate/door” pattern. Compared with historical formations, there is a possibility of a false breakout of the prior high at 82,500. After a pullback that fills the gap with a long lower shadow, the scenario to restart a bull market is possible. However, there is heavy resistance above 82,000–83,000. At this level, it’s necessary to try placing a low-leverage short. There are many trapped positions in this range; it won’t be easy to push through it all at once. This area is likely to become a reversal zone, with significant risk of a larger pullback on the daily timeframe. After a sharp rally earlier on, there may be an equally forceful drop afterward.
BTC trading suggestions: Short around 81,000, stop-loss at 82,000, take-profit at 80,300–78,800.
$BTC
Weekly BTC (the “big pie”) outlook: Last week closed with a strong bullish long white candle—one yang candle broke through multiple prior yin candles, forming a bullish “gate/door” pattern. Compared with historical formations, there is a possibility of a false breakout of the prior high at 82,500. After a pullback that fills the gap with a long lower shadow, the scenario to restart a bull market is possible. However, there is heavy resistance above 82,000–83,000. At this level, it’s necessary to try placing a low-leverage short. There are many trapped positions in this range; it won’t be easy to push through it all at once. This area is likely to become a reversal zone, with significant risk of a larger pullback on the daily timeframe. After a sharp rally earlier on, there may be an equally forceful drop afterward.
BTC trading suggestions: Short around 81,000, stop-loss at 82,000, take-profit at 80,300–78,800.
$BTC