Bitcoin's Failed 60-Day Cycle: Relief Rally Before More Downside

Bitcoin has officially failed its current 60-day cycle by breaking below the previous cycle low on June 5th, touching $100,000. This marks a key structural shift that traders should not ignore.

📉 What’s Next? Likely Scenario:
The highest probability setup now is a relief rally toward the Stoch RSI highs on the 1-Day and 3-Day timeframes, followed by a move downward into the 60-day cycle low, projected to form between late July and early August. This aligns with a potential retest of the Value Area Low from April, a key support zone to watch.

📈 Upside Target:
If we do see bullish continuation in the short term, the main upside target is $105,000. This level is significant as it clusters three Weekly Point of Control (POC) levels from May and June, making it a high-liquidity magnet for price. Historically, Bitcoin tends to gravitate toward these levels when several align closely.

💼 Current Positioning:
I’m currently long BTC and ETH, and I’m watching closely for Stoch RSI to top out on the 1-Day and 3-Day timeframes. I’ll look to reduce or exit those positions as we approach those cycle peaks.

🔔 Pro Tip: Price often seeks out stacked POC levels. If you’re a volume profile trader, keep $105K on your radar.

📌 P.S. For access to my custom indicators and deeper cycle analysis, check the description in my profile.