That breakout last night means today we must first admit our mistake.
The confirmation level I provided yesterday was $64,180.
$BTC reached as high as $64,744, but it failed to hold the breakout. It then fell back below the confirmation level again, with a low of $63,226.
According to the rules, this trade plan is already invalid—no need to find excuses for the old view.
More importantly, look at the open interest (OI):
OI fell from about $2.024B to $1.931B, a reduction of roughly 4.6%. The pullback last night came with clear deleveraging.
This morning, price rebounded to around $63,970, but the latest 1-hour OI increased by about $16.4M, indicating that new positions are starting to enter again.
My intraday plan today:
Pullback observation zone: $64,050—$64,180
First target: $63,550
Second target: $63,220
Plan invalidation: if the price stands back above $64,350 within 1 hour
I’m somewhat bearish today, but I won’t chase a short directly around $63,900.
As long as we can’t get back above $64,180, treat this rebound as a weak repair for now.
The confirmation level I provided yesterday was $64,180.
$BTC reached as high as $64,744, but it failed to hold the breakout. It then fell back below the confirmation level again, with a low of $63,226.
According to the rules, this trade plan is already invalid—no need to find excuses for the old view.
More importantly, look at the open interest (OI):
OI fell from about $2.024B to $1.931B, a reduction of roughly 4.6%. The pullback last night came with clear deleveraging.
This morning, price rebounded to around $63,970, but the latest 1-hour OI increased by about $16.4M, indicating that new positions are starting to enter again.
My intraday plan today:
Pullback observation zone: $64,050—$64,180
First target: $63,550
Second target: $63,220
Plan invalidation: if the price stands back above $64,350 within 1 hour
I’m somewhat bearish today, but I won’t chase a short directly around $63,900.
As long as we can’t get back above $64,180, treat this rebound as a weak repair for now.
