Market Viewpoint

The reaction at 106300 will be crucial.

Yesterday during the live stream, Bitcoin was around 110,000, and a possible development path was given, suggesting that a dip to the daily level FVG could be a good buying opportunity (red area).

Given that the market has now dipped to the daily level FVG, I am still bullish here. The main critical point for maintaining a bullish stance is that it cannot fall below the 4H MA100, which is in the 106300 range.

I believe it is still a bullish market (for Bitcoin) above the 106300 range.

Ethereum has fallen below 2800 and returned to the top of its original range, currently being supported at this level, but it is uncertain whether it will break below. As a result, various cryptocurrencies have already dropped to critical positions, and the reactions will be key (Bitcoin 106300, Ethereum 2700).

The market reacted to the daily FVG level, but after Ethereum broke below 2800, there was a significant sell-off in altcoins, which also proves that the overall altcoin market has not yet started. It is correct for us to maintain low leverage and not to blindly increase positions during the uptrend. Although most altcoins in hand have retraced, they are still far from our cost line on June 6 (except for a small portion of completely worthless ones).

Currently, OTHERS in 1H and 4H are showing signs of retracement to the vegas/interval bottom. If it holds here and rebounds for a three-part rise towards 285b, that is my main scenario/expectation at the moment. A 4H close below 250B would be relatively bearish.