$BTC closed strongly bullish for two days in a row. Expect a rally to at least 48-51k, the next inflection area, and let’s explore this hypothesis from different angles.
The June’s candle continues to be under a strong bearish pressure from the Tower Top combo in May. We might see another week of bullish action until it reverses closer to the end of month.
If this week closes above 41000, the mid-term bottom would be confirmed. So far, a very strong bullish action on the daily. The indicators are slowly improving.
A very strong bullish action over the last two days. Price strongly above 20 EMA line and the 8/20 EMA cross completed a few hours ago. A closure above 200 MA would reinforce the bullish odds.
Odds: Strong Bullish
The minor waves suggest that a 48000-51000 area is an inflection point where BTC could get a strong rejection.
If rejected there – expect the (A-B-C) structure in blue counts.
If moved through – expect a strong wave V in green. More details in the very long term forecast at the beginning of this post.
The Long Term Forecast posted on Jun 9 stands. The link below.
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