- After rebounding from the demand zone ($28,796 to $31,037), Bitcoin prices look good again.
- From the perspective of price action, this rebound may sweep the swing high of $35,550.
- However, if 62% Fib is marked as 36,569 USD or Optimal Trade Entry (OTE), that is, 70.5% Fib is marked as 37,632 USD, this move will be a perfect rise.
Bitcoin prices performed well in the range formed after the May 19 crash, but the crash of June 18-22 caught many investors by surprise (Including us), because it broke the swing low on May 19 and formed a new low.
Although the knife game did not happen, we did release it tweet Explore how BTC fell to $30,932 on June 23.
As BTC continued to retrace after establishing a local top, this idea was perfected.
June 25th, we explore There are two possibilities for how the rebound will continue, and the second possibility (falling into the demand zone, ranging from US$28,796 to US$31,037).
Scenario 2: What will happen?
On the 3-hour chart, BTC formed a demand zone, expanding from US$28,796 to US$31,037, and then rising by 17%, setting a local high at US$35,500.
Therefore, the callback of this rebound may find the bottom in the demand zone. A few hours later, BTC fell into this support zone, hit a low of $30,101, and continued to rise.
In the short term, the price of Bitcoin may sweep the local high at $35,500.
But in some cases, BTC may even mark 62% Fib as USD 36,569 or 70.5% Fib as USD 37,362.Either of these two will create a Great opportunity Short BTC.
Disclaimer: This is not financial/investment advice.