$BTC rebound is back, but the real watershed hasn’t been broken yet.
Yesterday, the price stopped falling around 63,850, then regained the level above 64,200. Now it has rebounded to around 64,500, and the short-term structure is indeed being repaired.
But 64,630 is the most important level for today.
Long plan:
Trigger condition: 1-hour period with increased volume holding steady above 64,630
Entry zone: pullback to 64,550—64,630 without breaking
First target: 65,000
Second target: 65,400
Invalidation point: falls back below 64,200
Short plan:
Trigger condition: price fails to push higher near 64,630, then falls back below 64,200
Entry zone: the retest to 64,200 cannot be reclaimed
First target: 63,850
Second target: 63,400
Invalidation point: regains 64,500
Now 64,500 is in the middle between support and resistance, so the risk-reward ratio isn’t good.
What’s truly worth trading is the pullback after a break above 64,630, or the retest after 64,200 is lost.
Yesterday, the price stopped falling around 63,850, then regained the level above 64,200. Now it has rebounded to around 64,500, and the short-term structure is indeed being repaired.
But 64,630 is the most important level for today.
Long plan:
Trigger condition: 1-hour period with increased volume holding steady above 64,630
Entry zone: pullback to 64,550—64,630 without breaking
First target: 65,000
Second target: 65,400
Invalidation point: falls back below 64,200
Short plan:
Trigger condition: price fails to push higher near 64,630, then falls back below 64,200
Entry zone: the retest to 64,200 cannot be reclaimed
First target: 63,850
Second target: 63,400
Invalidation point: regains 64,500
Now 64,500 is in the middle between support and resistance, so the risk-reward ratio isn’t good.
What’s truly worth trading is the pullback after a break above 64,630, or the retest after 64,200 is lost.
