BTC At $73K Crossroads โก Summer Highs or $61K Dip? ๐
Bitcoin holding tight near $73K support ๐ชจ Analyst Michaรซl van de Poppe says this level decides everything: summer breakout ๐ or deeper correction to $61K ๐ณ๏ธ
๐ $73K Support = Make or Break
โฉ Hold $73K = 2 strong weeks up ๐ new summer highs + big altcoin rally ๐ per van de Poppe
โฉ Lose $73K = door opens to $61K retest ๐ โcrucial zoneโ to prevent that drop ๐ก๏ธ BTC trading < $100 above $73K now ๐ซจ down 6.5% last 30 days +30% from 1 year ago
๐ Key Levels + Market Setup
Resistance $74.2K ๐งฑ Support $72.7K ๐ก๏ธ per Daan Crypto Trades
Price stuck in narrow band all week ๐ฆ BTC dominance high so alts waiting on BTC move
๐ธ ETF + Whale Headwinds
โฉ Spot Bitcoin ETFs bleeding since mid May ๐ฉธ $2.4B+ outflows total, $733M single day May 27 ๐ฐ
โฉ Large wallets $1M to $5M sold aggressively ๐ May net buying delta just 0.08% vs $11B in April ๐
โฉ May closing near $70.6K point of control possible per AbramChart ๐ฏ
๐
Correction + Seasonality
โฉ BTC entering longest correction of cycle โณ 237+ days, passing 2024โs 237 day pullback ๐
โฉ June historically weak ๐ avg return only 0.7% last decade per Markus Thielen
โฉ But May was weak too -3.4% vs normal strength ๐ค maybe weakness already priced in ๐
โ Bottom line ๐ฏ
$73K holds = summer rally season ๐ Lose it = $61K retest coming ๐ง BTC has no earnings to anchor price so ETF flows rule right now ๐ฆ
#CryptoAnalysis #SummerRally #Altcoins #BTCCorrection $BTC