Based on our ATR Regime Matrix: LTF Expansion / HTF Compression
BTC pushed into the previous balance POC area around ~63.2k–63.3k and rejected.
That red horizontal line labeled POC ~63,229 appears to be the previous balance POC. Price rallied into that area, could not accept above it, and then rotated lower back toward the current area around 62.6k.
So in our framework, this is exactly the type of situation:
LTF Expansion / HTF Compression → trap/failure only
The rejection from previous POC suggests buyers tried to auction price back into the prior value area, but failed to gain acceptance.
What that means
This is not automatically a short yet, but it is a valid short idea forming.
For it to become a clean short, I would want to see:
Price remains below the previous POC / rejection zone.
Pullback/retest into 63.0k–63.2k fails again.
Order flow flips bearish.
Price loses the local support around 62.5k–62.6k.
Short idea
The clean short would be either:
Aggressive short:
Retest of 63.0k–63.2k fails again.
Conservative short:
Break below 62.5k–62.6k, then failed retest from underneath.
Possible targets:
TP1: 62.2k
TP2: 61.8k
TP3: 61.5k–61.6k
Stop would be above the failed POC rejection high, or above the retest high if you get a cleaner entry.
BTC pushed into the previous balance POC area around ~63.2k–63.3k and rejected.
That red horizontal line labeled POC ~63,229 appears to be the previous balance POC. Price rallied into that area, could not accept above it, and then rotated lower back toward the current area around 62.6k.
So in our framework, this is exactly the type of situation:
LTF Expansion / HTF Compression → trap/failure only
The rejection from previous POC suggests buyers tried to auction price back into the prior value area, but failed to gain acceptance.
What that means
This is not automatically a short yet, but it is a valid short idea forming.
For it to become a clean short, I would want to see:
Price remains below the previous POC / rejection zone.
Pullback/retest into 63.0k–63.2k fails again.
Order flow flips bearish.
Price loses the local support around 62.5k–62.6k.
Short idea
The clean short would be either:
Aggressive short:
Retest of 63.0k–63.2k fails again.
Conservative short:
Break below 62.5k–62.6k, then failed retest from underneath.
Possible targets:
TP1: 62.2k
TP2: 61.8k
TP3: 61.5k–61.6k
Stop would be above the failed POC rejection high, or above the retest high if you get a cleaner entry.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.