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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💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
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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
関連の投稿
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。