BTCUSDT $26350 Weekly Update Sunday June 18th 2023 #25
BTCUSDT $26350 Weekly Update Sunday June 18th 2023 #25
BTC has retested its 3D21EMA at 26600 after finding a temporary support from the trendline
The trend is still down also on the Weekly as the Wmacd is negative suggesting the wave1 of the macro is in.
Now continuing its correction for the wave2
Will continue to target 0.382-0.50 fibs at 24-22k for take profits, then 20k at 0.618fib
Keep Sl at 28.5k to stay away from any short squeezes
For spot buy, bulls have 22-20k for accumulation. Will reevaluate for long positions when/if price gets there 22-20k
Bear also in mind that the CME has a GAP at 20200-21200, which is nearly a 4.5-5.0% gap. So it is probable to hit ~20k to fill the gap
The Monthly macd remains negative, but it is insignificant at the moment.
The 21D macd is still positive, but could drop to kiss the signal line before continuing its uptrend.
The other possibly on the 21D is to print a divergence where price retraces 100% at 16-15k.
Will continue to monitor it as we go.
BTC has retested its 3D21EMA at 26600 after finding a temporary support from the trendline
The trend is still down also on the Weekly as the Wmacd is negative suggesting the wave1 of the macro is in.
Now continuing its correction for the wave2
Will continue to target 0.382-0.50 fibs at 24-22k for take profits, then 20k at 0.618fib
Keep Sl at 28.5k to stay away from any short squeezes
For spot buy, bulls have 22-20k for accumulation. Will reevaluate for long positions when/if price gets there 22-20k
Bear also in mind that the CME has a GAP at 20200-21200, which is nearly a 4.5-5.0% gap. So it is probable to hit ~20k to fill the gap
The Monthly macd remains negative, but it is insignificant at the moment.
The 21D macd is still positive, but could drop to kiss the signal line before continuing its uptrend.
The other possibly on the 21D is to print a divergence where price retraces 100% at 16-15k.
Will continue to monitor it as we go.
