🤔 Bitcoin seems to be repeating the same weekend script once again.
Just as expected, $BTC closed above Friday's close, giving plenty of traders hope that the bounce would continue.
Then Asia opened...
...and most of those weekend gains disappeared almost immediately.
Honestly, we've seen this pattern too many times to call it a coincidence.
Now all eyes are on the $61K area.
There's a large pocket of liquidity sitting there, and the market loves to clean up liquidity before making its next meaningful move.
That said, there's one thing making me a little cautious.
A potential double bottom is starting to form.
If buyers step in, we could easily see one more fake bounce before any continuation lower.
That's why I'm not rushing into a trade here.
My overall bias is still bearish, but this is exactly the type of area where both bulls and bears get trapped.
Personally, I'd rather wait for the U.S. session to bring more clarity before committing to my next position.
Patience usually pays better than guessing.
Just as expected, $BTC closed above Friday's close, giving plenty of traders hope that the bounce would continue.
Then Asia opened...
...and most of those weekend gains disappeared almost immediately.
Honestly, we've seen this pattern too many times to call it a coincidence.
Now all eyes are on the $61K area.
There's a large pocket of liquidity sitting there, and the market loves to clean up liquidity before making its next meaningful move.
That said, there's one thing making me a little cautious.
A potential double bottom is starting to form.
If buyers step in, we could easily see one more fake bounce before any continuation lower.
That's why I'm not rushing into a trade here.
My overall bias is still bearish, but this is exactly the type of area where both bulls and bears get trapped.
Personally, I'd rather wait for the U.S. session to bring more clarity before committing to my next position.
Patience usually pays better than guessing.