Bitcoin showed no reaction after the drop; it continues to hover under the level. Most likely, this indicates a continuation of the decline. You can consider a Long position in the 61,000–60,000$ area.
And, in fact, $60,000 may not hold the price either. It’s quite possible that this is the start of a more global sell-off.
The price structure within the current range shows clear signs of a Type 2 accumulation according to Wyckoff.
Testing the Order Block is highly likely to act as a catalyst for the further development of the upward IOF and will create optimal conditions for opening a long position with a potential upside of ~61%🦈
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Right now the price is trading in the range of 63,000 – 64,500$. After a strong CPI, the market bounced a bit, but it still hasn’t shown a strong impulse.
Key zones:
📉 Support: • 62,500 – 61,400$ — area of interest + uncollected liquidity • Below 61,000$ — a deeper demand zone 📈 Resistance: • 65,150 – 65,800$ — the top of the current range • 67,500 – 68,200$ — the next significant level (a target for many longs)
On the 4H timeframe, the structure looks neutral-bullish. For further growth, it would be good to see a test of the lower boundary of the range, followed by a bounce and an increase in volume.
For now, I’m holding long positions on the heavies (as I wrote earlier), but I’m controlling the position size. I’m waiting either for an upside breakout with volume, or for a test of support for a possible add-on.
What do you think about the current range? Are you expecting a test of 61.4k, or are you already expecting a breakout of 65.8k?
SOL - we are also standing at the same level; if we want to see growth towards the target of $89–$91, we need to hold the range and for BTC to hold $63,000; then I expect Solana at $89–$91
BTC and ETH are at very sharp peaks without a pullback, which tells me they could push the price up to 63,000–64,000 on BTC! 📈
At 64,000, the main downtrend line passes and a strong level is there!
What worries me more is ETH, which is rising too strongly and is outperforming Bitcoin by 2x, more than even altcoins can boast!
⚡️ I'll close the BTC short to zero and keep the ETH short running so I don’t overstate the risk! Because they can push even higher by another 2%!
The 4H and 6H divergences have already played out, and the RSI is overheated! Plus the stochastic is overheated too!❗️ The rise won’t last long...
And the most frustrating part is that I bought a lot of spot at the Bitcoin price of 58,000, and it didn’t go up at all—altcoins are, day by day, frustrating me into forgetting about them! $BTC