BTC Market Movement , technical analysis 07 Jyune 2022

 06/07/2022 

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Whales Huntersᵀᴹ - Market Analysis

June 7, 2021

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🐠TECHNICAL (4H)

The bears have stepped in the game again, pushing BTC down from our #31,000 local highs once again to #29,000. We're still trading above our most important long term support level at #28,700, however, we need to see some high volume buying pressure if we're to reach new mid term highs from here.


🐠SENTIMENT

Sentiment has dropped drastically on lower time frames, showing a decent amount of bearish pressure building up. Sellers are once again thinking we're about to head to new long term lows, however most bears are already in short positions, meaning less volume is available.


A decent short term reaction at our long term key support level is all we need to reach at least #32,000 again, which is very likely judging by our current trading range. If the bulls regain momentum over the next 2-3 days, we're likely seeing our Blue Whale picks destroying their higher targets.


#BTC DAILY RANGE: 

📈Upper Limit: 32,298

📉Lower Limit: 27,477

(+-15% based on moving average volatility open/end points)


🐟SCALP ENTRIES (VIP)

(*Advanced traders only - moderate/high risk)

🧭LONG

$28,730

📡SHORT

$36,431

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