147
Hello everyone ??
BTC failed to break the resistance zone witch is formed by bearish FIBBO's 0.5 level and historical resistance line at $37318 ( Also we can count it as a MSB on forward candles )
Now I can Only suggest the current order block at ~36K, Which is just broken by last candles...
So it's more likely that we may retest the demand before any leg to supply !
Also on other forms, There is another bearish trendline Which just helped the bears to rejects the pair one more time.
On other timeframes :
On 1H TF, XBT looks more promising, I don't want to point to any direction for BTC now, But It seems that Also XBT have the potential to grow, If current structure holds the pair above $35500 flip zone.
Now Only have to look on the 4H TF and the current resistance zone , If BTC breaks the level, The it more likely to reach 43K before June 3rd.
?? We can say that Below 38K is bearish and above 31K is bullish !
So We are currently in a none trade zone.
But as I mentioned above, Bulls have to take the lead above 38K before June 03...
After that if BTC stays below 38K then it more likely that we will retest the demand zone cause of pivotal cross on 3rd June!
Hope you enjoyed our analysis about BTC's possible correction??
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Attention: this isn't financial advice we are just trying to help people on their own vision.
Have a good day!
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