BTC at HTF range middle
Updated
📉 Bitcoin Daily 📈
Bitcoin closed week at 66653. That was above higher timeframe range middle and above developing quarter VWAP. Can't say this price action looks bullish, but at least it hasn't yet completely wiped out all the bulls. In short term perspectives there is still a chance for a bounce to May close this week.
Higher timeframe picture and conditions remain the same. Acceptance below 66k will lead to BTC drop down to 63-64k and possible dips down to 59k (HTF range bottom). Last week close gives me bearish vibes - even if this week close above range middle chances to see those dips are close to "guaranteed".
Nearest liquidity pools:
above - 67260 / 67720 / 69195 / 70290
below - 65675 / 64885 / 64220 / 63080
Lines on the chart:
🔸72132 - May high
🔸71363 - March close
🔸69667 - week close
🔸68540 - week close (May)
🔸67577 - May close
🔸66653 - week close
🔸64025 - last April week close
Trend: D ▶️ W 🔼 M 🔼
🤑 F&G: 71 < 71 < 74 < 74 < 70
Bitcoin closed week at 66653. That was above higher timeframe range middle and above developing quarter VWAP. Can't say this price action looks bullish, but at least it hasn't yet completely wiped out all the bulls. In short term perspectives there is still a chance for a bounce to May close this week.
Higher timeframe picture and conditions remain the same. Acceptance below 66k will lead to BTC drop down to 63-64k and possible dips down to 59k (HTF range bottom). Last week close gives me bearish vibes - even if this week close above range middle chances to see those dips are close to "guaranteed".
Nearest liquidity pools:
above - 67260 / 67720 / 69195 / 70290
below - 65675 / 64885 / 64220 / 63080
Lines on the chart:
🔸72132 - May high
🔸71363 - March close
🔸69667 - week close
🔸68540 - week close (May)
🔸67577 - May close
🔸66653 - week close
🔸64025 - last April week close
Trend: D ▶️ W 🔼 M 🔼
🤑 F&G: 71 < 71 < 74 < 74 < 70
Comment
Choppy choppy Bitcoin price action. Asians disagreed with US pump and dumped it back to the next liquidity pool under 64885. Considering price returned back below developing quarter VWAP, we have the same condition as yesterday with only difference that I moved range bottom lower to 65052.
Acceptance below dev Q VWAP will lead to range loss and dump to 63-64k and possible dips down to 59k (HTF range bottom).
If BTC manage to come back above dev Q VWAP today or tomorrow, then nearest target will be dev Q VAH and May VAH around 68500-69000.
Nearest liquidity pools:
above - 67430 / 69230 / 70200
below - 64090 / 63080 / 60480
Comment
I've been writing about 64k for ages and BTC finally returned to that zone. Now bouncing back for bearish re-test of developing quarter VWAP. Bearish by default, unless price end up on the other side 😏
🔼 What is bullish over here? Revisited Day FVG EQ + and breakout level which correlated with touch of WEEK 20SMA at ~64200 + Day close above June 14th low, which may result in trapped shorts, what some call swing failure pattern (SFP)
🔽 What is bearish here? Rejection from May close and range middle. That means that now chances to see BTC at range bottom are higher, than to see it at range top. Besides we don't see high enough volume to consider there was a capitulation (caused by liquidations and stops cascade). Blood on the streets is a "must have" factor for reversal revolution.
Nearest liquidity pools:
above - 66093 / 67420 / 69230 / 70800
below - 63830 / 62700 / 61800 / 60480
FREE telegram channels:
Crypto reviews - t.me/WiseAnalyze
Crypto chat - t.me/WiseAnalyzeChat
Crypto watchlist - t.me/WiseAnalyzeDCA
Forex/Stocks - t.me/WiseForex
Crypto reviews - t.me/WiseAnalyze
Crypto chat - t.me/WiseAnalyzeChat
Crypto watchlist - t.me/WiseAnalyzeDCA
Forex/Stocks - t.me/WiseForex
Related publications
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.