#Bitcoin - What's Next? The big Sunday report, all you need t | Dr.Profit 🚀

#Bitcoin - What's Next?

The big Sunday report, all you need to know:

TA/LCA/Psychological Analysis:

In last week's Sunday report, we discussed the continued sideways movement within our established range. Since then, not much has changed. However, on both smaller and daily time frames, a falling wedge pattern has emerged, indicating a potential BTC target of $70,000 in the coming days. This aligns with the liquidity pool located between $70,000 and $72,000. At the same time, the Long/Short ratio on exchanges is balanced, and the funding rate starts appearing healthy and stable for the first time in weeks.

Fundamental Analysis:

According to strong fundamental indicators on the chart and on-chain data, I can foresee big growth in Q3 and Q4. However, we cannot ignore the bearish trends on the smaller time frames. For example: BTC has lost several key support lines, including the MA100 Daily, MA20 Daily, MA50 Daily, and EMA100 Daily. The MA50 Daily, a key bull market indicator, broke down on Tuesday, June 18th. Two days later, BTC pumped towards the MA50 Daily level, only to be rejected at $66,519.

For that, I‘am watching for the MA50 Daily level for a breakout, at the same time with a breakout from the falling wedge on the daily chart. This anticipated breakout could be more explosive than previous ones, potentially driving BTC above $72,000 in a short period, but as we know, things seem to move sideway for ages, and I don’t expect significant moves before Q3. Only a zik zak in the chart.

We must closely watch the MA50 Daily level and the potential breakout from the falling wedge structure on the daily chart. The lower liquidity mentioned in last week's report has been hit and there is almost no liquidity to take from the downside.

Calendar:

Final US GDP report on Thursday, June 27th. No other big newsfor this week. For those interested in altcoins, be sure to review my altcoin report and remember my box theory on higher time frames, particularly considering the expected bullish trends in Q3 and Q4

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