Monday Market Review
$BTC: $63,842
After using the weekly EMA200 as support between February and May, that support finally broke on June 1st.
Price remains in a clear downtrend, consistently making lower highs and lower lows.
NFA – My most likely scenario:
- Price consolidates in a range between $60K and the EMA200 (currently ~$68K)
- A rejection from the upper part of this range creates a new lower high
- Price then breaks lower and heads toward the 0.618 Fib retracement (sub $58K)
The downtrend is still intact for now, but we are approaching a high-conviction accumulation zone if the 0.618 level is tested.
Regardless of the direction we win.
If the price goes down we can stack more Sats. If it goes up, our wallet and alts get more valuable.
What is your view on the chart?
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