BTC has entered a healthy consolidation after the sell-off. With it being the summer period, lower market liquidity can also lead to choppier price action before the next major move.
The key resistance remains $67K-$68K, backed by strong confluence. This zone aligns with the 3-year POC, the anchored VWAP and monthly Order Block, making it the area bulls need to reclaim to regain momentum.
Support at $60K has held well so far. Next, I’d like to see a liquidity sweep below the key low at $61306. There is also a potential Head & Shoulders formation developing and could act as the catalyst for that move.
The ideal downside target sits around $60.5K, where the 0.702 Fib, -1 Fib extension and a large liquidity pool all converge.
Trade Ideas
Short:
Long:
Educational Insight
Remember, markets move towards liquidity, not just support and resistance. Stop-losses below obvious lows are magnets for price. A sweep below $61.3K into the $60K-$60.5K confluence zone would be a liquidity grab and could provide the foundation for the next bullish move.
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The key resistance remains $67K-$68K, backed by strong confluence. This zone aligns with the 3-year POC, the anchored VWAP and monthly Order Block, making it the area bulls need to reclaim to regain momentum.
Support at $60K has held well so far. Next, I’d like to see a liquidity sweep below the key low at $61306. There is also a potential Head & Shoulders formation developing and could act as the catalyst for that move.
The ideal downside target sits around $60.5K, where the 0.702 Fib, -1 Fib extension and a large liquidity pool all converge.
Trade Ideas
Short:
- $65K-$66K
- SL: Above the Anchored VWAP
- Target: $60.5K
Long:
- Watch the $61.3K-$60K zone
- Wait for a clear bullish reaction before entering
Educational Insight
Remember, markets move towards liquidity, not just support and resistance. Stop-losses below obvious lows are magnets for price. A sweep below $61.3K into the $60K-$60.5K confluence zone would be a liquidity grab and could provide the foundation for the next bullish move.
_________________________________
💬 If you found this helpful, drop a like and comment!
Catatan
Point Of Control:Catatan
4H Trend: Catatan
VWAP Support & Resistance Levels:Catatan
Short Entry at 0.618 Fib in confluence with VAH:Catatan
TP1 - 0.618 Fib:Catatan
wOpen + 0.886 Fib -> Short Entry:
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🏆 Mastering Fibonacci for precision trading
🔹 Sharing high-probability trade setups
⚡ Unlock the power of technical analysis!
🔹 Sharing high-probability trade setups
⚡ Unlock the power of technical analysis!
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.