BITCOIN still in that target circle, first posted in Feb 2025, and I expect to remain here till early June.
This daily chart shows us where exactly we sit in the circle.
https://tradingview.sweetlogin.com/x/HkWn7R1t/
There are a number of reasons why we may remain here a little longer but one thing to always look at is the MACD.
The Weekly is still rising Bullish with room to move higher
The Daily is choppy and currently just fallen below its Signal line
https://tradingview.sweetlogin.com/x/fXJU6XxK/
We need to watch this area as between the MACD and its Histogram, we could see a Strong Bearish Divergence
The shorter term 4 hour shows how support in approaching
https://tradingview.sweetlogin.com/x/J80iBmPP/
The habit has been for MACD to bounce off Neutral line but if we look at that Histogram, we can see the volatility there and so this could point to a weaker reaction in the near future.
In conclusion, the potential for a drop lower exists but the lower time frame MACD can also show us that some support is available maybe
Lines of support for BTC PA suggest a Low of around 105K should curent support fail.
Bitcoin Dominance (BTC.D) is currently rising again while the others are dropping.
If BTC PA Drops while this is rising, ALTS will Bleed heavy
Continued Range is the likely option till we reach June and then, Mid June, 18th, we have the FED Rate decision.
This could trigger renewed reaction.
We have reentered a zone of upmost CAUTION till we get some stronger momentum signals
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.