BTCUSD: SELL 93280, SL 95000, TP 90500 | 06 May 2025
06 May 2025, BTCUSD
Bitcoin still struggles to gain the momentum needed for a strong breakout. After a hard-fought attempt that formed a modest bullish impulse, selling pressure resumed. Currently, the situation appears to be the beginning of a corrective decline. It is possible that wave [ii] is developing within a larger emerging bullish impulse. If this assumption is correct, we may witness a corrective pullback during the current trading week, most likely forming a simple zigzag pattern. Thus, a break below the current local low should be considered as a potential entry point for short positions. Investment idea: SELL 93280, SL 95000, TP 90500.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
