$BTC
Price pushed up toward the 72.2k area earlier in the session, took liquidity above the local highs, and failed to hold. That rejection was immediate and heavy, which tells me buyers were active only until stops were cleared. Once that liquidity was taken, sellers stepped in and price rotated back below the short-term mean. Since then, we’ve seen a sharp drop followed by a weak bounce more corrective than impulsive. The inability to reclaim the prior high zone suggests control has shifted short-term, at least for now.
This move doesn’t feel like clean distribution at the top, but it also doesn’t look like strong accumulation. It’s more of a liquidity sweep followed by indecision, with price now sitting in a vulnerable area below resistance.
Market Read
I’m watching how price behaves around the 71k handle. Structure on the lower timeframe has flipped bearish after failing to hold above the intraday high, and momentum on the bounce looks thin. Higher lows haven’t been established yet instead we’re seeing reactive buying rather than initiative. If price continues to stall below the VWAP / MA zone, sellers likely remain in control. A reclaim and hold above 71.6k would be the first sign that buyers are stepping back in with intent.
Entry Point
71,200 – 71,500 (on rejection / weak reclaim attempt)
Target Points
TP1: 70,600
TP2: 70,000
TP3: 69,200
Stop Loss
72,300 (above the liquidity sweep high)
How it’s possible
Liquidity was taken above the session highs, and price failed to build acceptance. That usually traps late longs who chased the breakout. The sharp sell-off flushed weak hands, and the bounce so far hasn’t shown strong follow-through just short covering. With structure now pointing lower and price struggling to reclaim key intraday levels, continuation toward lower demand zones makes sense. If price reclaims and holds above the high with strength, this idea is simply invalidated no bias attachment.
