Bitcoin analysis

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7y

TUESDAY
4-JUN

Price took out LW low.
Further sell LQ could be found below the previous week's low.

So far price seems to be rejecting the lows, following a reaction from the previous accumulation range and the D1 buy zone from 23-MAY.
Since the overall context is bullish and lower prices are getting rejected, the rally may resume in the coming days.
The next sell LQ, however, seems too close right now and price may be willing to take it before a new rally commences.

On LTF, price is currently below the range EQ and if it's unable to stay above it, then the most likely target is the further sell LQ below $7500.

On the futures market there is also a gap below the sell LQ and price may also want to fill it in.

Bitcoin analysis | Ecency