#BTC# Update



We are finally in the long-awaited pocket between 113,650 and 114,700. Are we done with the pullback? Most likely, or almost. Surely a bottom is forming here but BTC may sweep lower until ~113,500 before the bottom is in. If you are not long yet, each drop to 114k is your chance to get on board.

This is all happening while the sentiment is terrible and everyone is expecting lower.

Funding rate briefly went negative and is still below the neutral rate.

Whale vs Retail Delta is at the lows.

BTC.D is back at 62%. It can wick higher before going lower.

We have the last bit of uncertainty, the NFP and unemployment data coming in today.

FOMC and BoJ meetings are over. Tariff uncertainty is mostly over. PCE data is behind.

Everyone is crying about the macro. In fact, everything came in as expected despite Powell being more hawkish than the consensus. I think this has all been priced in already.

A short squeeze is loading. ⌛

Invalidation below 110k (not a wick at 119500 but a close).
BTC3.51%
MAY0.29%
NOT-0.51%
GET-2.1%
post-image
post-image
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)