$BTC MOVE TO A DOWNTREND?
BTCUSDT
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63,037.2
-4.35%
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Bluechip
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$BTC
When you zoom out on the weekly TF, the PA gets a lot clearer.
Every candle tells a story. Every sweep. Every move.
Right now, 65K is our current higher low, simply because we haven’t broken below it yet. We had our first test of the 71K resistance, and now a new weekly candle has opened.
Since 65K held, the focus shifts to the 68.2K–67.3K range. This area was a daily S/R level that was flipped after the current low was established. If price holds this zone, the path back above 71.5K becomes very likely.
On the other hand, losing this level wouldn’t be ideal. It would open the door for 60K to eventually get swept... although it feels a bit premature for that move just yet.
There’s probably more liquidity to grab on the upside first.
Just my two cents.
When you zoom out on the weekly TF, the PA gets a lot clearer.
Every candle tells a story. Every sweep. Every move.
Right now, 65K is our current higher low, simply because we haven’t broken below it yet. We had our first test of the 71K resistance, and now a new weekly candle has opened.
Since 65K held, the focus shifts to the 68.2K–67.3K range. This area was a daily S/R level that was flipped after the current low was established. If price holds this zone, the path back above 71.5K becomes very likely.
On the other hand, losing this level wouldn’t be ideal. It would open the door for 60K to eventually get swept... although it feels a bit premature for that move just yet.
There’s probably more liquidity to grab on the upside first.
Just my two cents.
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