ANALYSIS #BTC☀ ON 06/13: MM IS SETTING A TRAP AT 64K — THOSE LONGING MAY GET DUMPED
BTC is currently around 63.6K, sitting between a short-term range of 62.8K–64.35K, so this isn't a prime zone to enter a position right now. The 24-hour view prioritizes the usual tactics of MM: pushing the price to sweep buy-stops above 64.35K–64.8K first, creating a breakout illusion. Then, if M30/H1 can't hold above 64.45K, we could see a retrace back to 63.25K, 62.8K, 62.3K.
The attractive liquidity zone above: 64.35K–64.8K, and deeper at 65.0K–65.3K. This is a zone that can easily create wicks to sweep short stops and entice retail to long the breakout. The liquidity zone below: 62.8K–62.3K, where many stops for the longs are located. Therefore, for the next 24 hours, it's best to avoid FOMO, just wait for the price to hit the edges and react.
Boys, wait for BTC to retrace/sweep up to 64,350–64,800. Only go short if there’s a wick up but M30 closes below 63,950, or H1 can't hold above 64,450.
Entry: 64,350–64,800
SL: 65,620
TP1: 63,450
TP2: 62,800
TP3: 62,300
If BTC sweeps down to 62.8K–62.3K first and then M30 closes above 63.0K, that's a short trap; only then consider longing up to 63.65K–64.35K, SL below 61.85K.
BTC is still at the end of the Markdown, showing early signs of Accumulation around 59.2K–65.3K, but it hasn't been confirmed yet. To clearly shift bullish, we need to close H4/D above 65.3K, then the target is 67.5K–69.5K. If we lose 59.2K, a bad scenario opens up towards 57.8K–56K.
BTC is currently around 63.6K, sitting between a short-term range of 62.8K–64.35K, so this isn't a prime zone to enter a position right now. The 24-hour view prioritizes the usual tactics of MM: pushing the price to sweep buy-stops above 64.35K–64.8K first, creating a breakout illusion. Then, if M30/H1 can't hold above 64.45K, we could see a retrace back to 63.25K, 62.8K, 62.3K.
The attractive liquidity zone above: 64.35K–64.8K, and deeper at 65.0K–65.3K. This is a zone that can easily create wicks to sweep short stops and entice retail to long the breakout. The liquidity zone below: 62.8K–62.3K, where many stops for the longs are located. Therefore, for the next 24 hours, it's best to avoid FOMO, just wait for the price to hit the edges and react.
Boys, wait for BTC to retrace/sweep up to 64,350–64,800. Only go short if there’s a wick up but M30 closes below 63,950, or H1 can't hold above 64,450.
Entry: 64,350–64,800
SL: 65,620
TP1: 63,450
TP2: 62,800
TP3: 62,300
If BTC sweeps down to 62.8K–62.3K first and then M30 closes above 63.0K, that's a short trap; only then consider longing up to 63.65K–64.35K, SL below 61.85K.
BTC is still at the end of the Markdown, showing early signs of Accumulation around 59.2K–65.3K, but it hasn't been confirmed yet. To clearly shift bullish, we need to close H4/D above 65.3K, then the target is 67.5K–69.5K. If we lose 59.2K, a bad scenario opens up towards 57.8K–56K.