$BTC Given the larger timeframes are in a downtrend, any upward movements are just technical bounces, so I'm prioritizing short positions.
The immediate resistance zone is 64k7, but a better level is 65k7, which just broke down.
Previously, when the price pumped from 63k6 to 65k7, it flipped and became resistance.
After that, it broke that level and went up to 67k2.
Then it retraced back to 65k7 and couldn't break it.
So it climbed to 66k9, tested the high again, and failed to break it, leading it back down to 65k7, where it’s been oscillating all day.
=> This 65k7 area has reacted multiple times, making it a key level.
Setup: short
Entry: 65k5
SL: 66666
The immediate resistance zone is 64k7, but a better level is 65k7, which just broke down.
Previously, when the price pumped from 63k6 to 65k7, it flipped and became resistance.
After that, it broke that level and went up to 67k2.
Then it retraced back to 65k7 and couldn't break it.
So it climbed to 66k9, tested the high again, and failed to break it, leading it back down to 65k7, where it’s been oscillating all day.
=> This 65k7 area has reacted multiple times, making it a key level.
Setup: short
Entry: 65k5
SL: 66666