BTCUSDT Bulls Beware: A Major Trap Might Be Around the Corner!
Yello, Paradisers! Have you been watching #BTCUSDT closely over the last few days? It's been showing some promising strength, but could this be a trap in the making? Let’s break it down so you don’t get caught off guard.
💎#BTCUSDT has been steadily trading within a parallel channel, and while the recent closes above 61k seem bullish, there’s more to the story when we zoom out to the macro picture.
💎On the higher time frames, BTCUSDT continues to form lower lows and lower highs — a textbook bearish trend. Right now, it's likely setting up for another lower high, which could lead to a significant rejection. The key resistance region to watch is around 64,193, and a rejection here could signal the next downward move.
💎Above this resistance zone, there's a bearish order block between 66,500 and 68,430. It’s highly probable that BTC will first push into this zone, clearing out the liquidity from those currently shorting. This classic liquidity grab could lure traders into thinking they've missed the move, prompting a rush to buy into the market. But beware – this is exactly when the market tends to reverse.
💎Once the liquidity above the bearish order block is taken, expect a swift rejection. The market could wick slightly above this zone before retracing hard, possibly heading down to the next support regions at 58,963, with major support around 55,750.
💎Invalidation of this bearish scenario occurs if BTCUSDT closes a daily candle above the previous equal highs near 71,398. If this happens, the bearish thesis weakens, and further upside could be on the horizon.
Stay disciplined, Paradisers! With the right strategy, this could be a huge opportunity. But don’t let emotions drive your trades—let the levels and signals guide you!
MyCryptoParadise
iFeel the success🌴
💎#BTCUSDT has been steadily trading within a parallel channel, and while the recent closes above 61k seem bullish, there’s more to the story when we zoom out to the macro picture.
💎On the higher time frames, BTCUSDT continues to form lower lows and lower highs — a textbook bearish trend. Right now, it's likely setting up for another lower high, which could lead to a significant rejection. The key resistance region to watch is around 64,193, and a rejection here could signal the next downward move.
💎Above this resistance zone, there's a bearish order block between 66,500 and 68,430. It’s highly probable that BTC will first push into this zone, clearing out the liquidity from those currently shorting. This classic liquidity grab could lure traders into thinking they've missed the move, prompting a rush to buy into the market. But beware – this is exactly when the market tends to reverse.
💎Once the liquidity above the bearish order block is taken, expect a swift rejection. The market could wick slightly above this zone before retracing hard, possibly heading down to the next support regions at 58,963, with major support around 55,750.
💎Invalidation of this bearish scenario occurs if BTCUSDT closes a daily candle above the previous equal highs near 71,398. If this happens, the bearish thesis weakens, and further upside could be on the horizon.
Stay disciplined, Paradisers! With the right strategy, this could be a huge opportunity. But don’t let emotions drive your trades—let the levels and signals guide you!
MyCryptoParadise
iFeel the success🌴
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