๐จ BITCOIN BEARISH OUTLOOK โ BUT A SHORT SQUEEZE COULD COME FIRST! โ ๏ธ๐
Bitcoin is still facing significant selling pressure, and the overall market sentiment remains bearish. However, thereโs one important factor traders shouldnโt ignore: the massive short-side liquidity sitting above the $74K zone.
I've maintained a bearish outlook on BTC for some time, mainly because of the growing negative developments across the financial and crypto markets. But being bearish doesn't mean we should ignore the possibility of a temporary bullish move.
๐ CURRENT MARKET SITUATION
Bitcoin is currently trading around $68,900, a historically important price area that previously acted as its all-time high.
Here's what I'm watching closely:
๐น $70,000: Critical weekly closing level.
๐น $73,300: First major resistance.
๐น $75,100: Key resistance and potential liquidity target.
๐น $68,900: Important support to defend.
๐น $64,000: Next major downside zone if support breaks.
๐ COULD BTC PUMP BEFORE ANOTHER DROP?
If Bitcoin manages to close the weekly candle above $70K, we could see a temporary recovery toward $73,300โ$75,100.
Such a move could trigger short liquidations and collect liquidity before sellers regain control.
๐ป WHAT IF SUPPORT FAILS?
If BTC loses the $68,900 level, downside pressure could accelerate toward $64,000. This is an important demand zone where Bitcoin may find enough support to consolidate and move sideways.
๐ฏ MY PERSONAL MARKET VIEW
Despite the bearish structure, I wouldn't be surprised if Bitcoin makes one more move upward to capture short liquidity before continuing its downward journey.
Remember, markets don't always move in the direction most traders expect. Liquidity often comes first, and direction comes afterward.
โ ๏ธ Don't rush into positions or blindly chase a breakout. Wait for confirmation, manage your leverage, and protect your capital.
๐ฌ What's your expectation?
Will BTC reclaim $75K first and then dump, or will sellers push the price directly toward $64K?
$BTC
Bitcoin is still facing significant selling pressure, and the overall market sentiment remains bearish. However, thereโs one important factor traders shouldnโt ignore: the massive short-side liquidity sitting above the $74K zone.
I've maintained a bearish outlook on BTC for some time, mainly because of the growing negative developments across the financial and crypto markets. But being bearish doesn't mean we should ignore the possibility of a temporary bullish move.
๐ CURRENT MARKET SITUATION
Bitcoin is currently trading around $68,900, a historically important price area that previously acted as its all-time high.
Here's what I'm watching closely:
๐น $70,000: Critical weekly closing level.
๐น $73,300: First major resistance.
๐น $75,100: Key resistance and potential liquidity target.
๐น $68,900: Important support to defend.
๐น $64,000: Next major downside zone if support breaks.
๐ COULD BTC PUMP BEFORE ANOTHER DROP?
If Bitcoin manages to close the weekly candle above $70K, we could see a temporary recovery toward $73,300โ$75,100.
Such a move could trigger short liquidations and collect liquidity before sellers regain control.
๐ป WHAT IF SUPPORT FAILS?
If BTC loses the $68,900 level, downside pressure could accelerate toward $64,000. This is an important demand zone where Bitcoin may find enough support to consolidate and move sideways.
๐ฏ MY PERSONAL MARKET VIEW
Despite the bearish structure, I wouldn't be surprised if Bitcoin makes one more move upward to capture short liquidity before continuing its downward journey.
Remember, markets don't always move in the direction most traders expect. Liquidity often comes first, and direction comes afterward.
โ ๏ธ Don't rush into positions or blindly chase a breakout. Wait for confirmation, manage your leverage, and protect your capital.
๐ฌ What's your expectation?
Will BTC reclaim $75K first and then dump, or will sellers push the price directly toward $64K?
$BTC
