🚨 THIS $BTC BREAKOUT COULD BE A MASSIVE TRAP
The 1D chart is printing an Inverse Head & Shoulders into a 1M Imbalance
We could expect two scenarios from here:
1. Relief Squeeze -> Breakout past $67k to fill the 1M Imbalance.
The 200 MA near $69,000 is a next major resistance that could trigger a heavy rejection back lower if we fail to reclaim it
2. Direct Flush -> Daily close below ~$62.2k invalidates the shoulder pattern, opening a direct path to ~$57k
My lean is to wait for the $69k MA200 price action to confirm my thesis before positioning
Follow + notifs on I will keep you updated
The 1D chart is printing an Inverse Head & Shoulders into a 1M Imbalance
We could expect two scenarios from here:
1. Relief Squeeze -> Breakout past $67k to fill the 1M Imbalance.
The 200 MA near $69,000 is a next major resistance that could trigger a heavy rejection back lower if we fail to reclaim it
2. Direct Flush -> Daily close below ~$62.2k invalidates the shoulder pattern, opening a direct path to ~$57k
My lean is to wait for the $69k MA200 price action to confirm my thesis before positioning
Follow + notifs on I will keep you updated