BitcoinLong
Market Analysis and Expectation
Looking at the Bitcoin 1-hour chart, I’m expecting price to move up from the current price level or anywhere within this POI (Point of Interest) region. Here’s why:
Market Structure
The overall structure suggests we are in a broader range-bound phase, with price cycling between premium and discount zones. Currently, price has tapped into the premium-to-discount zone, showing signs of exhaustion to the downside.
Liquidity Sweep
There was a Break of Structure (BoS) and a clear Sell-Side Sweep (SSS) around this area. These are classic signs of liquidity being taken, indicating that the market might be gearing up for a reversal or at least a significant retracement.
Psychological Levels
Price is hovering just above a significant psychological level (94,374), which often acts as a magnet for liquidity and a potential bounce zone. Buyers may step in to push the market higher from here.
Chalk Flip and POI Alignment
I can see a Change of Character (ChoCH) in smaller timeframes. Coupled with this POI in the discount area, it’s a prime spot for price to pivot upward.
Daily Resistance and Targets
If the reversal plays out, my immediate target would be the daily resistance zone around 102,587, with intermediate take-profit levels at previous supply zones. This move aligns with the market’s tendency to rebalance inefficiencies and target liquidity pockets above.
Overall, I’m positioning myself for potential longs from this region while keeping an eye on smaller timeframe confirmations to refine my entries. The bias flips only if price breaks decisively below this POI with strong momentum.
Market Structure
The overall structure suggests we are in a broader range-bound phase, with price cycling between premium and discount zones. Currently, price has tapped into the premium-to-discount zone, showing signs of exhaustion to the downside.
Liquidity Sweep
There was a Break of Structure (BoS) and a clear Sell-Side Sweep (SSS) around this area. These are classic signs of liquidity being taken, indicating that the market might be gearing up for a reversal or at least a significant retracement.
Psychological Levels
Price is hovering just above a significant psychological level (94,374), which often acts as a magnet for liquidity and a potential bounce zone. Buyers may step in to push the market higher from here.
Chalk Flip and POI Alignment
I can see a Change of Character (ChoCH) in smaller timeframes. Coupled with this POI in the discount area, it’s a prime spot for price to pivot upward.
Daily Resistance and Targets
If the reversal plays out, my immediate target would be the daily resistance zone around 102,587, with intermediate take-profit levels at previous supply zones. This move aligns with the market’s tendency to rebalance inefficiencies and target liquidity pockets above.
Overall, I’m positioning myself for potential longs from this region while keeping an eye on smaller timeframe confirmations to refine my entries. The bias flips only if price breaks decisively below this POI with strong momentum.
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.