BTCUSD: SELL 102400, SL 104000, TP 98000 | 16 June 2025
16 June 2025, BTCUSD
Bitcoin has started to follow the anticipated bearish scenario. As expected, buyers failed to break the local high, forming an upward zigzag. This confirms that the move was corrective in nature—likely wave b within a zigzag or wave ii of a developing downward impulse. Both scenarios imply further downside in the near term, so any previously opened short positions should be kept active. There is still a chance for a short-term bounce, so it's advisable to hold off on adding new short positions until a more favorable entry appears. Investment idea: SELL 102400, SL 104000, TP 98000.
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.
