🧠 Market Context
Bitcoin is currently breaking down from a rising wedge structure. Multiple Fair Value Gaps (FVGs) remain unmitigated, suggesting potential liquidity targets before any major move continues.
📌 Key Zones (FVGs Identified):
🔼 Upper FVG (Target zone): 106.3K – 106.6K
🔽 Mid FVGs (Retracement Zones):
105.1K
104.7K
🟣 Lower FVG Clusters (Strong Demand):
103.2K
102.7K
101.9K
🧩 Possible Scenarios
📈 Bullish Case (Support Reclaim & Bounce)
Price dips into mid FVGs (105.1K or 104.7K) and shows a bullish reaction.
If price reclaims the wedge structure → move toward 106.3K+ becomes likely.
📉 Bearish Case (Continuation Down)
Price breaks down further, targeting deeper FVGs at 103.2K or lower.
Watch for sharp reversals from demand zones (especially below 103K) for potential long setups.
📊 Strategy Ideas
🚀 Long Setup: Wait for bullish confirmation at 104.7K or 103.2K FVG → enter on price reversal.
🧨 Short Setup: Watch for rejection near 105.5K (top of wedge and 50% level of recent FVG) → downside potential to 103K.
⏰ Note
This is an intraday price action analysis. Use proper risk management and confirm setups with HTF confluence (1H / 4H).
Bitcoin is currently breaking down from a rising wedge structure. Multiple Fair Value Gaps (FVGs) remain unmitigated, suggesting potential liquidity targets before any major move continues.
📌 Key Zones (FVGs Identified):
🔼 Upper FVG (Target zone): 106.3K – 106.6K
🔽 Mid FVGs (Retracement Zones):
105.1K
104.7K
🟣 Lower FVG Clusters (Strong Demand):
103.2K
102.7K
101.9K
🧩 Possible Scenarios
📈 Bullish Case (Support Reclaim & Bounce)
Price dips into mid FVGs (105.1K or 104.7K) and shows a bullish reaction.
If price reclaims the wedge structure → move toward 106.3K+ becomes likely.
📉 Bearish Case (Continuation Down)
Price breaks down further, targeting deeper FVGs at 103.2K or lower.
Watch for sharp reversals from demand zones (especially below 103K) for potential long setups.
📊 Strategy Ideas
🚀 Long Setup: Wait for bullish confirmation at 104.7K or 103.2K FVG → enter on price reversal.
🧨 Short Setup: Watch for rejection near 105.5K (top of wedge and 50% level of recent FVG) → downside potential to 103K.
⏰ Note
This is an intraday price action analysis. Use proper risk management and confirm setups with HTF confluence (1H / 4H).
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.