BTC PERSONAL ANALYSIS IN THE SHORT TERM (UPDATED)

5 juil. 2022

The current evaluation for the BTC asset is bullish. Please be reminded that such evaluations are only derived from market structure and price action with respect to previous support & demand levels as well as fundamentals. Below are the several key points to which I am convinced we are in a bullish rising wedge formation in the process of an eventual breakdown:

--------------------------
b]Bullish Indications

• Descending Triangle Breakout or should be much more extended for a much larger timeframe.
  
• Falling Wedge Pattern Breakout which is the target is on the previous rejection level 22,000$
  
• Bullish Divergence on the Daily RSI
  
• Overbought Levels in the 1H-4H timeframe which would indicate that the next wick of overbought levels should be in a form of a bearish divergence, but higher high in price action.
  
• In anticipation for the FED meeting and CPI report release this month, the prices will more likely be bullish up until to that point where we could see a potential breakdown.
  
• Neutral PCE Report
  
• Failure to break 18,600$ forming a double bottom formation on the higher-high from 17,600$.
  
• Smart Money Futures are bullish.
  

--------------------------
Bearish Indicators

• Adjusted or Extended Macro-Descending Triangle (will be completely invalidated once we visit 24k)
  
• Formation of a Macro-Rising Wedge (still in the process)
  
• Overall Downtrend both Smart Money Markets and Crypto
  
• Potential High Inflation Report from CPI and increased rate-hike response from FED
  
• Exchanges such as Celsius, Voyager and Vauld halting withdrawals, deposits, etc.
  

If you like the information above, please do not forget to like, share and comment!
-Wamses

5 juil. 2022

Trade fermée manuellement

Closed graph due to sudden DXY pump and EURO tumbling down causing positive smart money futures to dip as well. Confirmed the 20,400-20,500$ to be more bearish and a bulltrap.