**Scenario for BTC**
1️⃣ **Fundamental analysis:**
📊 Nonfarm data last weekend was good for the USD and impacted the interest rate cut policy. It is likely that we will have to wait until June for the next interest rate cut.
📉 Current market sentiment is affected by this information, plus the recent sharp increase in BTC price has made many people doubt the momentum to continue to increase to a higher price range. Therefore, the increase has temporarily slowed down.
2️⃣ **Technical analysis:**
🔹 **Week frame:** Last week closed not very optimistically when the price reacted badly at the resistance zone of 101k~104k.
🔹 **Frame D:** The price structure is also not good when there are 2 peaks with the latter peak lower than the previous peak. The price is approaching the support zone but there is no clear reaction, it is likely to adjust to a lower support zone.
🔹 **H4 frame:** Based on the Zigzag line, we can see the classic head-and-shoulders pattern. At this time, we should not catch the bottom when the price has created a lower peak, showing that the market sentiment is no longer interested in the possibility of BTC's price increase.
3️⃣ **Trading plan:**
✅ If you have a **SELL** order in a good position, congratulations! 🎉 You can absolutely wait for a better profit when BTC is likely to break the current support zone to reach the next support zone of 85~86xxx.
⛔ **Absolutely do not BUY** at the present time, when the price structure shows a short-term downtrend.
💪 **Wish you successful trading!** 🚀
📊 Nonfarm data last weekend was good for the USD and impacted the interest rate cut policy. It is likely that we will have to wait until June for the next interest rate cut.
📉 Current market sentiment is affected by this information, plus the recent sharp increase in BTC price has made many people doubt the momentum to continue to increase to a higher price range. Therefore, the increase has temporarily slowed down.
2️⃣ **Technical analysis:**
🔹 **Week frame:** Last week closed not very optimistically when the price reacted badly at the resistance zone of 101k~104k.
🔹 **Frame D:** The price structure is also not good when there are 2 peaks with the latter peak lower than the previous peak. The price is approaching the support zone but there is no clear reaction, it is likely to adjust to a lower support zone.
🔹 **H4 frame:** Based on the Zigzag line, we can see the classic head-and-shoulders pattern. At this time, we should not catch the bottom when the price has created a lower peak, showing that the market sentiment is no longer interested in the possibility of BTC's price increase.
3️⃣ **Trading plan:**
✅ If you have a **SELL** order in a good position, congratulations! 🎉 You can absolutely wait for a better profit when BTC is likely to break the current support zone to reach the next support zone of 85~86xxx.
⛔ **Absolutely do not BUY** at the present time, when the price structure shows a short-term downtrend.
💪 **Wish you successful trading!** 🚀
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