#BTC $BTC #BTC $BTC
After the Chinese session opened, Bitcoin broke support and completely absorbed the entire pump from the US session. Right now, price is retesting the broken support.
I’m considering a continuation lower, at least toward 63,700 ±, but I will not enter a short without a confirmed break of the 64,300–64,400 support zone.
At the same time, there is still a high probability of a move toward the price gap around 64,690–64,700. And until the local bullish structure is broken, I would avoid entering a short.
Liquidity above yesterday’s high has also not been taken yet — this remains another potential magnet for the market maker.
Conclusion: For now, it’s better to wait for strong confirmation before entering a trade.
15M close above 64,600 → LONG could be considered, targeting a sweep/update of yesterday’s high.
15M close below 64,300 → SHORT could be considered, with targets at 63,700 and 63,200.
P.S. I’m not expecting a major move higher at this point — I don’t see the prerequisites for a strong bullish move. On the other hand, I still have a bearish scenario targeting the 50,000 area as a broader reference.
If this post gets a lot of reactions, I’ll share my long-term market outlook.
Not financial advice. This is my personal view of the market.
After the Chinese session opened, Bitcoin broke support and completely absorbed the entire pump from the US session. Right now, price is retesting the broken support.
I’m considering a continuation lower, at least toward 63,700 ±, but I will not enter a short without a confirmed break of the 64,300–64,400 support zone.
At the same time, there is still a high probability of a move toward the price gap around 64,690–64,700. And until the local bullish structure is broken, I would avoid entering a short.
Liquidity above yesterday’s high has also not been taken yet — this remains another potential magnet for the market maker.
Conclusion: For now, it’s better to wait for strong confirmation before entering a trade.
15M close above 64,600 → LONG could be considered, targeting a sweep/update of yesterday’s high.
15M close below 64,300 → SHORT could be considered, with targets at 63,700 and 63,200.
P.S. I’m not expecting a major move higher at this point — I don’t see the prerequisites for a strong bullish move. On the other hand, I still have a bearish scenario targeting the 50,000 area as a broader reference.
If this post gets a lot of reactions, I’ll share my long-term market outlook.
Not financial advice. This is my personal view of the market.