This week, Bitcoin took a V-shaped dip.


From Monday to Thursday, it gradually moved up, reaching 78k on Thursday.
Then on Friday, it directly crashed to 75.3k.
ETFs traded over 2.2 billion dollars in two weeks; you tell me this isn't institutional rebalancing, I don't believe it.
Over the weekend, Trump announced a peace agreement with Iran, and Bitcoin rebounded from 74.3k to 76.7k.
How it will move next week, around 79K is the core high of this week's oscillation, the best position for a short-term top.
There are a few other things I will be watching closely.
Can ETFs stop bleeding?
Two weeks of 2.2 billion dollars isn't a small amount; if selling continues next week, don't expect a decent rebound.
Can the 74k-75k level hold?
If it breaks, the next real buy zone is at 72-73k, which was the dense trading area in March.
Will the Iran deal actually materialize?
The market will initially rise on expectations, but if negotiations stall later, all the gains will be wiped out.
Core: High-level oscillation to form a top, a sharp drop could come at any time.
BTC2.74%
View Original
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
  • 1
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned