The reason I am focused on $60k is that it’s a large round number and also the area many traders view as the last major support from the current range. If Bitcoin loses $60k and cannot reclaim it quickly, market participants may start pricing in a move toward the low-$50k region.
That said, one thing I’ve noticed in previous cycles is that the biggest selloffs often happen when holders are already uncomfortable, not when they’re still confident. last cycle it was the $30k region in 2018 it was $6000 region.
Right now, if $BTC is sitting at $64k after a sweep of $60k, many traders are probably still expecting a recovery. Panic usually appears only after those expectations fail.
Good morning!!!
The weekly price movement of $BTC is shown in red, with the week's high-probability setup located within the shaded area.
Core CPI data will be released on June 10th, followed by PPI on June 11th. These are high-profile news events.
There have also been discussions of a ceasefire, but nothing is clear and reliable enough to make trade judgments.
Hope you have a great week ahead and a happy morning!
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