The Setup (SHORT $BTC ):
Entry Zone: 63,800 - 64,200
Invalidation / Stop Loss: 64,650 (Above the recent structural rejection wick)
Target 🎯 1: 63,200
Target 🎯 2: 62,500
Target 🎯 3: 61,800
The Market Narrative:
Crypto markets are highly cautious and taking defensive positions ahead of the upcoming U.S. CPI data release. Macro uncertainty is currently dominating sentiment, keeping the price trapped below major resistance levels as traders avoid large long positions.
The Technical Breakdown:
Looking at the 1H chart for image_be29b7.png, we are observing a clear bearish market structure characterized by a series of lower highs and lower lows. After a heavy distribution phase from the $65,400 region, the price flushed down to test the $63,200 area. We saw a strong rejection wick near $64,500 on the recent bounce, confirming that sellers are actively defending higher prices and liquidity.
The short-term structure remains fundamentally weak as long as the price stays below the critical $64,180–$64,300 EMA cluster. Volume and momentum on these minor green candles are fading, suggesting that this is a low-conviction dead-cat bounce. Until we see a structural break and a sustained volume close above $64,600, taking a short position on these retracements offers a highly favorable reward-to-risk ratio.
Are you fading this current bounce, or do you expect a massive short squeeze after the inflation data drops? Let me know your thoughts below! 👇
#cryptotrading $BTC #TechnicalAnalysis #bitcoin
Disclaimer: This is for educational purposes only and is not investment advice. Always do your own research and manage your risk.