BTC Lost The Range Floor. Down To 63,006.
Speaking back to Monday, since we skipped the evening: the call was that a loss of 64,400 puts the floor back in play. That is what happened, and then some. BTC broke the entire 64,400 to 65,890 range down, sold to 63,006, and is trading 63,428 after sweeping a low. The week-long range resolved lower. The hourly conviction is trying to turn back up off that swept low and the 4H still carries a bullish thesis, but price is now below every level it spent the week defending. A range breakdown hunting for a floor. Neutral.
Resistance: 63,796.21 - first level to reclaim
Key resistance: 64,400.89 - the lost range floor
Current price: 63,428
Support: 63,006.14 - the swept low
Key support: 62,459.75 - the prior range shelf
Structural floor: 61,453.09 - deeper support
Two paths from here:
The swept low holds and it bounces back to the range. A low swept below 63,006 with the hourly conviction turning up is a bounce setup. A reclaim of 63,796 and then 64,400 would make the breakdown a shakeout and put price back in the range. Watch for the reclaim, not the wick.
The breakdown extends. Price is below every defended level with the daily bearish. A loss of 63,006 opens 62,459 and confirms the range break as a genuine trend change. Below the swept low, there is room.
The floor gave and BTC is now hunting for support beneath the range it held all week. 63,006 is the swept low to watch - hold and bounce, or lose it and the breakdown runs.
Built with SYNTHESIS v3.3 | SOM / ACE / IMP / SYNTHESIS
Study, not financial advice.
Speaking back to Monday, since we skipped the evening: the call was that a loss of 64,400 puts the floor back in play. That is what happened, and then some. BTC broke the entire 64,400 to 65,890 range down, sold to 63,006, and is trading 63,428 after sweeping a low. The week-long range resolved lower. The hourly conviction is trying to turn back up off that swept low and the 4H still carries a bullish thesis, but price is now below every level it spent the week defending. A range breakdown hunting for a floor. Neutral.
Resistance: 63,796.21 - first level to reclaim
Key resistance: 64,400.89 - the lost range floor
Current price: 63,428
Support: 63,006.14 - the swept low
Key support: 62,459.75 - the prior range shelf
Structural floor: 61,453.09 - deeper support
Two paths from here:
The swept low holds and it bounces back to the range. A low swept below 63,006 with the hourly conviction turning up is a bounce setup. A reclaim of 63,796 and then 64,400 would make the breakdown a shakeout and put price back in the range. Watch for the reclaim, not the wick.
The breakdown extends. Price is below every defended level with the daily bearish. A loss of 63,006 opens 62,459 and confirms the range break as a genuine trend change. Below the swept low, there is room.
The floor gave and BTC is now hunting for support beneath the range it held all week. 63,006 is the swept low to watch - hold and bounce, or lose it and the breakdown runs.
Built with SYNTHESIS v3.3 | SOM / ACE / IMP / SYNTHESIS
Study, not financial advice.
Mapping macro structure, custom indicators, and radial geometry.
📊 View my published scripts: tradingview.com/u/virDeStratera/
📊 View my published scripts: tradingview.com/u/virDeStratera/
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Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Mapping macro structure, custom indicators, and radial geometry.
📊 View my published scripts: tradingview.com/u/virDeStratera/
📊 View my published scripts: tradingview.com/u/virDeStratera/
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.