BTCUSD has been trading within a tight consolidation range on the daily timeframe, indicating market indecision and potential buildup of liquidity. After this extended period of sideways movement, we anticipate a bearish breakout as the market seeks to sweep liquidity below the current range.
Price has failed to make a strong higher high, suggesting weakening bullish momentum. If BTC breaks below the range support and confirms with a retest, this could be a strong signal for short entries. Key support levels and order blocks should be monitored for confirmation.
Confluences for the short bias:
Loss of bullish momentum on daily candles
Liquidity resting below the consolidation range
Potential break of market structure
Bearish divergence on RSI (if applicable)
Proximity to a key resistance zone or supply area
Price has failed to make a strong higher high, suggesting weakening bullish momentum. If BTC breaks below the range support and confirms with a retest, this could be a strong signal for short entries. Key support levels and order blocks should be monitored for confirmation.
Confluences for the short bias:
Loss of bullish momentum on daily candles
Liquidity resting below the consolidation range
Potential break of market structure
Bearish divergence on RSI (if applicable)
Proximity to a key resistance zone or supply area
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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.