$BTC We are bouncing from the Weekly Open and the bottom of this descending broadening wedge, which is a decent sign for bullish continuation.


My first target to the upside remains the same liquidity zone around 67.4k. This is the pivot area that will decide whether we see another leg down towards 54k or continue pushing higher into the 70k's.
However, before we can reach that 67.4k liquidity zone, the first thing we need is a reclaim of 65.5k. This is an important LTF S/R level that also lines up with the previous Daily EQH's.
A reclaim of this level brings the bullish scenario back into play. On the other hand, if we continue getting rejected here, it would suggest that this bounce from the Weekly Open was nothing more than a dead cat bounce before price continues lower toward the 63.7k region.
Currently, I'm in a long from 64.6k, which I shared inside the Discord. Apart from that position, the only levels I'm interested in for the next trade are 67.4k for a potential short and 63.7k for a potential long setup.
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HedgeUmbrella
· 2h ago
Brokers and the community are all watching for the return of a bull market, and I’m still on the sidelines.
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StablecoinHoarder
· 2h ago
The key is whether 65.5k can hold steady.
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DualMarketWatcher
· 2h ago
Your analysis is very clear: from the rebound at the weekly open to the decline wedge’s lower bound. Now we just need to see whether 65.5k can effectively break through. If the breakout is successful, the target is 67.4k. Then watch whether a double top forms or whether the price continues to surge. Personally, I’m more inclined to wait for 65.5k to be confirmed before entering, because those previous breakouts didn’t hold.
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HoneypotHunter
· 2h ago
If 67.4k gets rejected, it will most likely go to 63.7k; at that time, I’ll consider taking on more.
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