Bitcoin has started to show the first warning signs that a larger corrective top could be forming. In this update, I explain why the rejection below the 21-week EMA matters, which support and resistance levels are now critical, and what would actually confirm that the B wave has topped.
We also take a detailed look at Bitcoin seasonality using the MCO Terminal and explore why June has historically been one of the weakest months for Bitcoin performance, especially during midterm election years.
In this video:
• Key support and resistance levels
• Why the current rally still appears corrective
• What confirmation of a top would actually look like
• Bitcoin seasonality for June and midterm years
• Why the stock market matters for Bitcoin here
• The short-term wave structure and weekend outlook
The current structure still allows for another upside extension, but pressure is building and the market remains vulnerable as long as resistance holds.
Timestamps:
00:00 Bitcoin gives first warning sign
01:10 Why the break below the 21W EMA matters
02:05 Bigger picture bearish pattern explained
03:31 Why the stock market matters for Bitcoin
04:45 Key support levels to watch now
06:37 What would confirm a Bitcoin top?
07:35 Bitcoin seasonality analysis begins
08:40 Why June is historically weak
09:58 Midterm election year seasonality
11:20 Why the current rally still looks corrective
12:25 Key short-term resistance zone
13:30 Important support levels for the weekend
15:05 Final thoughts and risk outlook
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We also take a detailed look at Bitcoin seasonality using the MCO Terminal and explore why June has historically been one of the weakest months for Bitcoin performance, especially during midterm election years.
In this video:
• Key support and resistance levels
• Why the current rally still appears corrective
• What confirmation of a top would actually look like
• Bitcoin seasonality for June and midterm years
• Why the stock market matters for Bitcoin here
• The short-term wave structure and weekend outlook
The current structure still allows for another upside extension, but pressure is building and the market remains vulnerable as long as resistance holds.
Timestamps:
00:00 Bitcoin gives first warning sign
01:10 Why the break below the 21W EMA matters
02:05 Bigger picture bearish pattern explained
03:31 Why the stock market matters for Bitcoin
04:45 Key support levels to watch now
06:37 What would confirm a Bitcoin top?
07:35 Bitcoin seasonality analysis begins
08:40 Why June is historically weak
09:58 Midterm election year seasonality
11:20 Why the current rally still looks corrective
12:25 Key short-term resistance zone
13:30 Important support levels for the weekend
15:05 Final thoughts and risk outlook
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