Bitcoin remains in a local trading range as we head into the weekend, with price action showing signs of rotation and liquidity grabs.
Points to Consider:
• Bitcoin deviated above the range high, potentially signaling a liquidity grab or fake breakout.
• A confirmed rejection back below the range high could target $76,600.
• Price defended the current low and backfilled a CME futures gap, but no clear bottoming structure has formed.
Key resistance sits at $85,000—remaining below this level signals continued short-term weakness. If price retests $76,600, traders should monitor the reaction to determine potential directional bias.
Points to Consider:
• Bitcoin deviated above the range high, potentially signaling a liquidity grab or fake breakout.
• A confirmed rejection back below the range high could target $76,600.
• Price defended the current low and backfilled a CME futures gap, but no clear bottoming structure has formed.
Key resistance sits at $85,000—remaining below this level signals continued short-term weakness. If price retests $76,600, traders should monitor the reaction to determine potential directional bias.
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Disclaimer
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Join our free telegram for market updates: t.me/chartdoctorsanconsultants
Trade here with the best exchange: blofin.com/invite/alchemisttrader
Trade here with the best exchange: blofin.com/invite/alchemisttrader
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.