1. What happened lately
In my previous BTC analysis, I mentioned that as long as the 110k zone holds, the bullish structure technically remains intact.
On Friday, Powell’s speech lifted the market precisely from that zone, as the possibility of rate cuts injected optimism across risk assets, including crypto.
2. The psychological trap
But here’s the question I keep asking myself: is this genuine strength, or just wishful thinking? I’ve said it many times — trade what you see, not what you hope for. And what the charts are showing right now is not as promising as the initial bounce might suggest.
3. Technical signals
- BTC quickly returned to the 112k support level, erasing the Friday rally.
- Price remains under the trendline that started in April.
- The bounce looks more like a retest of broken levels than a new impulsive leg.
- Structurally, we can even identify a head and shoulders pattern with the neckline around the 110k zone, although not perfectly shaped.
4. Reading between the lines
It’s hard for me to believe that Bitcoin came back to the same support just to give latecomers another easy buying opportunity. More likely, the “rate cut euphoria” was dead cat bounce, and the market is telling us something different than the headlines.
5. Conclusion
At this moment, I remain neutral in my positioning but leaning bearish in my outlook. Optimism is tempting, but discipline requires us to trust the charts, not our hopes.
And... if it looks like a duck, walks like a duck, and quacks like a duck… it’s probably a duck. 🦆
In my previous BTC analysis, I mentioned that as long as the 110k zone holds, the bullish structure technically remains intact.
On Friday, Powell’s speech lifted the market precisely from that zone, as the possibility of rate cuts injected optimism across risk assets, including crypto.
2. The psychological trap
But here’s the question I keep asking myself: is this genuine strength, or just wishful thinking? I’ve said it many times — trade what you see, not what you hope for. And what the charts are showing right now is not as promising as the initial bounce might suggest.
3. Technical signals
- BTC quickly returned to the 112k support level, erasing the Friday rally.
- Price remains under the trendline that started in April.
- The bounce looks more like a retest of broken levels than a new impulsive leg.
- Structurally, we can even identify a head and shoulders pattern with the neckline around the 110k zone, although not perfectly shaped.
4. Reading between the lines
It’s hard for me to believe that Bitcoin came back to the same support just to give latecomers another easy buying opportunity. More likely, the “rate cut euphoria” was dead cat bounce, and the market is telling us something different than the headlines.
5. Conclusion
At this moment, I remain neutral in my positioning but leaning bearish in my outlook. Optimism is tempting, but discipline requires us to trust the charts, not our hopes.
And... if it looks like a duck, walks like a duck, and quacks like a duck… it’s probably a duck. 🦆
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🎯 Want More Trading Ideas?
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
Verbundene Veröffentlichungen
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.