FaN-

The best bet for Bitcoin(June 25, 2023) As of June 25, 2023, Bitcoin's narrative strongly favors short sellers in the mid to long-term for the following reasons: 1) Clear CPD fractals are playing out on weekly and daily time frames 2) Major pivot points have decisively engulfed the previous nodes of the ascending legs 3) Buy-side liquidity rests just above 32659k 4) An exhausted RSI, It's completing the final leg of its QM (or broadening triangle) pattern + A bunch of other reasons exclusive to my personal trading method(not mentioning to avoid complexity) Whether the price moves towards the CME gap (34455-35180) to fill the imbalance remains uncertain. In case of ignoring the 32659k, a fast rejection through a wick to the mentioned gap and immediate reversal is a possibility; however, a decisive breakout and pullback to the node(Ignore level) invalidates my analysis. The next stop in case of invalidation is the maximum pain level at around 38k, from which I do expect a reversal with huge order flow that could take bitocin to sub 12k levels. FaN-

As bitcoin heads for its third monthly close in green, its price action for 2022 remains the same as for the most part of 2021: sideways. Recent bounce off the 20M SMA & 21M EMA-which historically has been an important range for market cycle continuation- gave the bulls a sense of superiority.If bitcoin successfully manages to close above 48000$ & form a monthly pivot , stars will align for an upward movement to 58k to 60k range. However, if bitcoin closes the month below 48k , party will get delayed & other market factors should be taken into consideration.Monthly candle closed below 48k but our scenario could still play out as the price action & market sentiment slightly favors the bulls. BTC has been rangebounding between 33k & 48k for the third month in a row, forming a monthly base.Weekly close above the base after a trend shift(on lower time frames) at 40.5k to 42.5k range will signal the start of our long-awaited rally.

BTC will most likely have a move up to 48.5K to 49Kish area, filling the previous gap on May 13th. After forming a potential head and shoulders & breaking the neckline, downward movement to 38K-39K would be in the cards.