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$BTC : Support Flush & Rapid Absorption – Long Setup
Bitcoin recently experienced a quick flush into a major support zone, but the lack of follow-through is the real story. Bids stepped in with high velocity, suggesting that this move was a "liquidity grab" rather than a structural breakdown.
🔍 Technical Analysis
Absorption vs. Distribution: The rapid recovery from the lows indicates high-demand absorption. Sellers are exhausted, and downside momentum has failed to expand past the key support levels.
Structure Defense: Buyers are holding the line firmly. As long as we trade above the current support floor, the technical path of least resistance is toward a bullish continuation.
Sentiment: Fear is high, which often marks a local bottom. The coiling price action suggests a volatility expansion to the upside is imminent.
⚡ The Trade Plan: LONG
Entry Zone: 66,800 – 67,500
Target 1: 69,400 (Local Resistance)
Target 2: 72,000 (Psychological Barrier)
Target 3: 75,000 (Major Trend Extension)
Stop Loss: 64,900
Pro Tip: Keep an eye on the 4-hour candle close. A strong close above 68,200 will likely trigger a fast move toward TP1 as late shorts are forced to cover.
Nabiha Noor
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