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Bitcoin changed hands in European trading after the Sunday night failed attempt to break $107,100. This pull-back did not change the opinion of Dr Cat, a market analyst (@DoctorCatX), that three weeks from now will be the crucial battleground: The weekly close on 9th June. At this time the Tenkan-sen should cross the Kijun-sen in the Ichimoku chart.
The Bitcoin price is now a lot higher.
The aforementioned is a post The analyst’s article on X from May 19 reminded readers that “some people don’t understand the concept of time-frames,” Add that “while now we have a clear rejection with volume, a lot of people decided to get scared … on the first red 4h candle which even if red, didn’t break support.” He called the present setback a routine consolidation. “Since tomorrow ~99.9K is a super-strong support,” He wrote that the area between $98.900 and $102,200 is a high-liquidity zone. “most likely” The word is “bought up pretty quickly and decisively” Should spot bids tested?
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The key to Dr Cat’s arguments is the interaction between the Kijun-sen, a medium-term indicator and the Tenkan-sen (which moves quickly) on the weekly chart. An upward cross of the former above the latter—sometimes colloquially dubbed a “TK golden cross”—carries weight among Ichimoku practitioners because it signals that near-term momentum has finally overwhelmed the baseline trend.
The current range is so tight that it makes 9 June’s close a delicate one. Dr Cat admits this. “it’s unclear which will come first, $99,000 or $109,000—and that doesn’t really matter,” But he categorizes that “any deeper retrace below $98,000 is very unlikely.” Every week the support for Kijun-sen has risen. sideways trade.
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The May publication will be a time when macro-sensitive traders are also working. US Consumer Price Index on June 11—two days after the anticipated TK cross—and the Federal ReserveThe rate setting meeting will take place on the 17th and 18th of June. With real-yield expectations still dominating risk-asset positioning, any upside surprise in core inflation could delay the confirmation of bullish chart patterns—or intensify them if the data land dovish.
The market is still range bound for the time being. If the closing price of $99,000 remains unchanged and the Chikou span (lagging line), stays above it, then Dr Cat does not see any reason to change his thesis. “If by the time of the cross the price is still holding above Tenkan Sen … if ATH is not seen by then, it should be seen pretty much immediately,” He wrote.
It is unclear whether this confidence will last through the macro-calendar. What is clear is that both discretionary traders and systematic funds are marking 9 June as the moment the chart either validates the 2025 bull cycle—or postpones it once more.
BTC was trading at $103,721 as of press time.
Featured image was created with DALL.E chart by TradingView.com
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Source: www.newsbtc.com
