$BTC
Quick BTC daily update.
We had a solid run-up with back-to-back BOS (break of structure), but we're finally seeing a natural retracement now.
Right now, the key level to watch is that yellow line around $74.9k (the CHoCH). It looks like we’re heading down to test this area to grab some liquidity. If buyers step in and we hold this level, it’s the ideal spot for a reversal back up toward the $86k - $87k resistance block (where we topped out at the "ECHO" level).
If the $74.9k level doesn't hold, the next major backstops are those deeper demand zones way down around $61k and $57.8k—but let's focus on the immediate trigger first.
My plan: Be patient and watch how price reacts at $74.9k. If we get a strong rejection/reversal pattern on the lower timeframes, it’s a really solid risk-to-reward setup targeting the $86k zone. If we slice right through it, we wait.
Don't rush the play, wait for the market to give the go-ahead.
What are you guys thinking? Bounce at $74.9k or are we going deeper? Drop your thoughts below 👇
#InvestMal
Quick BTC daily update.
We had a solid run-up with back-to-back BOS (break of structure), but we're finally seeing a natural retracement now.
Right now, the key level to watch is that yellow line around $74.9k (the CHoCH). It looks like we’re heading down to test this area to grab some liquidity. If buyers step in and we hold this level, it’s the ideal spot for a reversal back up toward the $86k - $87k resistance block (where we topped out at the "ECHO" level).
If the $74.9k level doesn't hold, the next major backstops are those deeper demand zones way down around $61k and $57.8k—but let's focus on the immediate trigger first.
My plan: Be patient and watch how price reacts at $74.9k. If we get a strong rejection/reversal pattern on the lower timeframes, it’s a really solid risk-to-reward setup targeting the $86k zone. If we slice right through it, we wait.
Don't rush the play, wait for the market to give the go-ahead.
What are you guys thinking? Bounce at $74.9k or are we going deeper? Drop your thoughts below 👇
#InvestMal