Fusel
7.8K posts

Fusel
@Fuselwhale
Sharing Crypto Insights & Technical Analysis Not financial advice




If $BTC has bottomed, the current structure mirrors the 2019 and 2022 bottoms remarkably well. The same pivot point sequences have played out (with one exception: the second red dot in 2022). We are seeing identical reactions at range highs, rejection followed by a move back into the Value Area to test POC and VAL. Historically, this marked the bottom. From here, we grinded up through POC and VAH in a choppy move before the breakout.






$BTC update: As we can see price followed one of the paths we mapped out, and it looks like we’re now in motion for a drop. $BTC tapped the 74k zone for a second time and got hard rejected again. Like we discussed, if that happened without a bullish reaction back up, it was a clear sign we weren’t ready for upside continuation. $BTC is back at 70k and for now, it’s holding this level… for now. After two clean rejections at 74k, I think the odds are we see 6Xk soon. It’s true that on the LTF when we pushed into 74k, the strength of the impulse made a run to 78k a real possibility but at this point, that feels a lot less likely. Lower comes first imo. During this week Saylor has held the price on many occasions, we’ll see if he’s able to keep doing it. On top of that the projection of the U.S. and Iran war doesn’t have any forecast of an imminent ending. I also think oil $CL is going to go back to $110-120, and all of this together makes me think we’re going down from here. So we'll keep following the purple road imo.


Added to $HYPE short @ 31.9 Ddidn't like that Saylor was the one pushing $BTC price yesterday. I was long positioned at the time of the quoted post, I'm closer to a neutral spot now (0.3x net lev short). Will update when I make any major changes, for now just slightly short and chill.


















