No too much liquidity upside. Expecting market to test liquidity till 83-85k zone in next 2-3 days. Though I don't like shorting the bull as it's against Market sentiments but Profits are Profits
BTC closed daily above 63254 which means that yesterday's dump was actually a mere sell side liquidity grab and in this process BTC grabbed the Stops below PWL, Equal Lows and tapped the Top of daily FVG and bounced back up 64k.
imo we can see a strong short covering rally upto next weekend before dump again till end of August.
#BTC Its Rejected after taking Liquidity above 70K and hunted the stops below Saturday Low in the same day. imo we should observe the PA when BTC test 69.3K again
As anticipated Eth tested 2900 - 3100 +OB as Support and bounced, Now its flirting with the massive Resistance 3525. ETH ETF Today so liquidity will kick in and if its not the sell event then next point of interest is 3725 - 3850 - 3930.
If its sell the news event then 3250 - 3110 is next
Well BTC bounced back after punishing late longs Yesterday and closed daily above OB- 64570. Yesterdays Move Tricked many even me as i was anticipating that BTC was following Scenario 2 which was not the case at daily close.
Scenario 1 is in play now and BTC might be Heading above 66.4k to grab LTF Liquidity but HTF Liquidity above 72k is still the Lucrative target for this Short covering Rally.
Most likely will dip to 64k before continuing Higher Or Less Likely is wick towards 61.4k - 60.4k.
Invalidation for this Bullish Scenario - Daily close below 60k
BTC filled the wick as anticipated on Last Monday and reclaimed Range low, OCT 21 close, YTD AVWAP, SMA 200, EMA 200 as support after grabbing sell side Liquidity lying below May Low which means that Two probable Scenarios are Expected now.
1 - Grab the Buy Side Liquidity above 63860 where Bearish OB is ready to impose sell pressure if rejected then it can pullback to 60k before rebouncing.
2 -Break above the 63.8k - 64.5k OB and retest it as Support after breaking out as support to continue Rally higher