BTC Analysis Today - Bounce from the Bottom or the Start of a New Rally?
BTC is currently trading at 65,422.4 after hitting a low of 61,956.3 and bouncing strongly.
This low of 61,956.3 is today's most important level. The price dropped to it, swept the liquidity below it, then bounced clearly with consecutive green candles. This is a classic move by market makers before a rally.
The Supertrend indicator on the chart is currently at 64,474.8, and the price is now above it. Staying above the Supertrend is the first positive signal for an upward move.
On the hourly timeframe, we can see that the price broke above the small yellow downtrend line, providing further confirmation that selling pressure is beginning to weaken.
Bullish scenario: If the price holds above 64,474.8, the next target will be a test of 67,252.4, the high of the last 24 hours, followed by 69,000.
Bearish scenario: If the price breaks below 64,474.8 and closes beneath it, we will retest the low of 61,956.3. A break below that level would mean a deeper decline.
My advice to new VIP 1 and VIP 2 traders: Don't invest all your capital now. The safer entry zone is on a retest of 64,474.8 with a confirming green candle, with a stop loss below 61,956.3.
Capital management is more important than the analysis itself. Don't risk more than 2% of your portfolio on a single trade.
What do you expect BTC to do? Will it break 67,252.4 today or return to the low? Share your thoughts in the comments.
This is educational analysis, not financial advice. Do your own research (DYOR).
$BTC
$ETH
$SOL
BTC is currently trading at 65,422.4 after hitting a low of 61,956.3 and bouncing strongly.
This low of 61,956.3 is today's most important level. The price dropped to it, swept the liquidity below it, then bounced clearly with consecutive green candles. This is a classic move by market makers before a rally.
The Supertrend indicator on the chart is currently at 64,474.8, and the price is now above it. Staying above the Supertrend is the first positive signal for an upward move.
On the hourly timeframe, we can see that the price broke above the small yellow downtrend line, providing further confirmation that selling pressure is beginning to weaken.
Bullish scenario: If the price holds above 64,474.8, the next target will be a test of 67,252.4, the high of the last 24 hours, followed by 69,000.
Bearish scenario: If the price breaks below 64,474.8 and closes beneath it, we will retest the low of 61,956.3. A break below that level would mean a deeper decline.
My advice to new VIP 1 and VIP 2 traders: Don't invest all your capital now. The safer entry zone is on a retest of 64,474.8 with a confirming green candle, with a stop loss below 61,956.3.
Capital management is more important than the analysis itself. Don't risk more than 2% of your portfolio on a single trade.
What do you expect BTC to do? Will it break 67,252.4 today or return to the low? Share your thoughts in the comments.
This is educational analysis, not financial advice. Do your own research (DYOR).
$BTC
$ETH
$SOL
