📉 Daily Bitcoin chart review 📈

Bitcoin moves in the direction for the dips 😎 The main thing to watch here is what will be the price reaction to that 61-60k. Wicks into that zone and fast return back up will be bullish re-test. But if price get stuck there, most probably will drop lower.

P.S. I've got some virus and have temperature for the second day. Will take a day off charts, as I can't be cold blooded and clearly thinking while drowning in snot, coughing and headache 🤧🤒

Nearest liquidity pools:
above - 64873 / 65900 / 67420 (main) / 71600
below - 62600 / 61720 / 60950 / 58180 / 56760

SR levels to watch PA:
🔸66025 - week close
🔸63088 - week close
🔸60651 - April close
🔸59150 - April low
🔸56975 - Nov'21 close

Trend: D ▶️ W 🔼 M 🔼

🤑 F&G: 64 < 68 < 71 < 67 < 48

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📉 Daily Bitcoin chart review 📈

Bitcoin finally landed to pullback target zone which I've marked last Saturday 👌🏼 Could have just sit back and relax waiting for the move. Now that the price has finally reached area of interest its time to monitor, what happens here.

Main concern for bulls is that BTC didn't dump fast here which could have given it a long buy tail and pump price back up. Instead it just slowly lost value without any interest from buyers. My point here is that we got to see sharp move to have reasons to expect a reversal pattern. Without it, chances for pump are minimum.

And since this is 4H chart I'm talking about sharp move that can happen within 4 hours period. Not that much to ask for and can happen any time within these two days.

Why so bullish? Because last week candle was bullish and current candle remains above April close.

Nearest liquidity pools:
above - 62168 / 63000 / 64900
below - 60350 / 58600 / 58020

SR levels to watch PA:
🔸66025 - week close
🔸63088 - week close
🔸60651 - April close
🔸59150 - April low
🔸56975 - Nov'21 close

Trend: D ▶️ W 🔼 M 🔼

🤑 F&G: 55 < 64 < 68 < 71 < 67

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Also want to point your attention to Nasdaq chart which has two gaps on 1H TF - one is just $100 above and another one left from week old pump - the same that pumped BTC.

As you can see, Bitcoin almost accomplished that pullback move that NDX didn't even start. Hard to predict if stocks will cover that lower gap first or not, but if they will, crypto will certainly create that sharp impulse move which I was waiting for. Just has to pray for it not to end up below 56.5k 😅

@WiseAnalyze #NDX #ta

📉 Ethereum chart review 📈

Ethereum accomplished full swing route up and down from what I've drawn on May 1st. As you can see ETH is below 3k again, but its not the end yet. Giving it time till the end of this week to find the direction.

Against BTC ETH looks ok and could be at the bottom (unconfirmed). USDT price will follow the global market.

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Since Monday Nasdaq moves sideway. Now in the middle of the range. Trading activity make sense only at the edges. Wait for price to get there and then act upon PA. Right here its no-trade zone.

Chart and prices given for BingX which also covers electronic trading hours. Previous post was for regular trading hours chart.

@WiseAnalyze #NDX #ta

📉 Daily Bitcoin chart review 📈

Bitcoin bounced from April close. Just a small wick below that level appeared to be enough. At least for a bounce. Hard to say what exactly helped crypto recover with such a small effort - was it pumping gold, or dumping DXY. Or relatively bullish stock performance. All together. In any case BTC is at closest point to reversal back to higher timeframe uptrend since it started retracing in the middle of April.

I'm sure you'll see enough bullish reviews out there today, so I will post something to cool you down instead. On day timeframe BTC still within downtrend structure of lower highs and lower lows. To break it price has to continue growing higher till it wipe out stops above 65500. And only after that move it can return back to 63k, or 61k or even 59k, but not lower.

Main bullish factor now is that lower zones have no high liquidity pools left. Just for comparison. Approximately the same amount of liquidations will be cause at 50500 and 67400 - try to guess which way it will be easier for whales to push the price first 😉

Nearest liquidity pools:
above - 63650 / 64900 / 65640 / 71740
below - 60790 / 60450 / 59950 / 58600

SR levels to watch PA:
🔸66025 - week close
🔸63088 - week close
🔸60651 - April close
🔸59150 - April low
🔸56975 - Nov'21 close

Trend: D ▶️ W 🔼 M 🔼

🤑 F&G: 66 < 55 < 64 < 68 < 71

Useful links: Alts Watchlist | Forex | Twitter | Instagram | YouTube

Support this channel - sign up to BingX exchange with 20% discount on fees. Trade Crypto/Forex/Indices and Commodities all in one place 🔥

@WiseAnalyze #BTC #Bitcoin #important #ta

If NFP won't breakout on the first attempt, imho good to catch it around 0.4888

@WiseAnalyze #NFP #ta

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If that green zone holds, crypto market can make another leg up. And that chart is only for alts, so we are talking about potential alts season.

At the same time it is important to point out that this is a Week chart and if chart start ranging in a bull flag pattern, this consolidation may take another 9-13 weeks

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WHAT HAPPENED and WHAT's UP NEXT WEEK

Consumer sentiment for the US fell to 67.4 in May 2024 from 77.2 in April, the lowest in six months and missing market expectations of 76, preliminary estimates showed.

Inflation expectations for the year-ahead increased to 3.5%, the highest in six months from 3.2% in April. Also, the five-year inflation outlook hit 3.1%, the highest in six months, from 3.0%.

Finally, both current conditions (68.8 vs 79 in April) and expectations (66.5 vs 76) declined. Consumers expressed worries that inflation, unemployment and interest rates may all be moving in an unfavorable direction in the year ahead.

📉 Daily Bitcoin chart review 📈

Bitcoin followed stock market crash based on economic news. Whether you like it or not correlation between crypto and US economy is huge. Halving has a delayed effect on supply, so at this moment BTC just follows indices.

Next week will be decisive. S&P500 and NDX are close to ATH and next week candle will show, if there will be bullish continuation, or we will see final rejection and drop back, which in turn will indicate market state for the whole summer. Hope for the best, get ready for the worst.

BTC closed Friday at 60778. As usual that will be the target for the next week PA regardless where price find itself on Monday open. That is the only and main hint I can give. The rest is fantasy, but I can see BTC at ~59112 at least and possibly revisit ~62250 as well.

P.S. On Day timeframe BTC is still within downtrend drawing lower highs and lower lows, but Week chart remain within uptrend consolidation.

Nearest liquidity pools:
above - 61640 / 63600 / 64750 / 65615
below - 59800 / 58600 / 57980 / 56225

SR levels to watch PA:
🔸65500 - week high
🔸63088 - week close
🔸60651 - April close
🔸59150 - April low
🔸56975 - Nov'21 close

Trend: D ▶️ W 🔼 M 🔼

😐 F&G: 53 < 66 < 55 < 64 < 68

Useful links: Alts Watchlist | Forex | Twitter | Instagram | YouTube

Support this channel - sign up to BingX exchange with 20% discount on fees. Trade Crypto/Forex/Indices and Commodities all in one place 🔥

@WiseAnalyze #BTC #Bitcoin #important #ta

And in case market crash the following 1-2 weeks, my view on buy zones remains the same as I wrote in here - https://t.me/WiseAnalyze/16014

@WiseAnalyze #BTC #ta