$BTC kicks off the week with a corrective bounce, but the plan stays the same — we're still locked in compression, and my bias leans short.
Price is testing the 63.8K zone right now, which sets up a clean scalp-short opportunity since 64K resistance sits just above. We've been printing inside bars on the weekly for two weeks straight, confirming HTF compression. That means any position here carries a bit more risk, but it's still tradeable if you size accordingly.
The 64K region offers a decent short setup targeting the equal lows at 62.3K. If price sweeps the equal highs at 64.5K first, a short after the liquidity grab is valid with the same 62.3K downside target.
If you took that hedge long from 63K last week, consider taking some profit here and moving your stop to breakeven.
NY session should bring some clarity. Trade the chart, manage the risk, and keep the long-term plan in focus.
Price is testing the 63.8K zone right now, which sets up a clean scalp-short opportunity since 64K resistance sits just above. We've been printing inside bars on the weekly for two weeks straight, confirming HTF compression. That means any position here carries a bit more risk, but it's still tradeable if you size accordingly.
The 64K region offers a decent short setup targeting the equal lows at 62.3K. If price sweeps the equal highs at 64.5K first, a short after the liquidity grab is valid with the same 62.3K downside target.
If you took that hedge long from 63K last week, consider taking some profit here and moving your stop to breakeven.
NY session should bring some clarity. Trade the chart, manage the risk, and keep the long-term plan in focus.