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
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
It has swept Liquidity below May Low and closed Daily above it. well what a Manipulation as MM pushed the Market lower close to Institutional reference Point but didn't let the orders fill. its Really Funny they took the sell side liquidity but kept the Bids unfilled.
looking at the weekly chart also Path of least resistance is higher now so i expect BTC to hit 63k - 65k in any case however not denying the 50% of Yesterday wick fill (55.1k) most probably on Monday.