ANALYSIS #BTC ON 22/06: MM IS SETTING A TRAP AT 64.6K — PUMP UP THEN DUMP?
BTC is currently around 64.0k, stuck between the M30/H1 range: below is 63.75k–63.15k–62.30k, above is 64.45k–64.65k, and deeper levels are 65.15k–65.35k.
MM has a high probability of pushing the price up to the 64.45k–64.65k zone to trigger buy-stops and lure traders into a long breakout, potentially even spiking up to 65.15k–65.35k. If M30 closes below 64.35k, there's a strong likelihood of a drop back to 63.75k - 63.15k - 62.30k.
Guys, wait for BTC to retrace/spike up to 64.45k–64.80k before looking to SHORT; don’t chase the short at 64.0k. If there’s a spike up to 65.15k–65.35k but the candle closes weak, you might want to scale into your position. SL at 66.20k. TP1: 63.75k. TP2: 63.15k. TP3: 62.30k.
If BTC doesn’t bounce back and breaks below 63.75k, don’t chase the short. Wait for a retest of 63.75k–64.05k to fail before shorting again. If the price dips down to 62.30k and quickly reclaims 63.75k, that’s a bear trap; at that point, stop shorting and switch to watching for a long rebound back to 64.45k–65.20k.
BTC is currently around 64.0k, stuck between the M30/H1 range: below is 63.75k–63.15k–62.30k, above is 64.45k–64.65k, and deeper levels are 65.15k–65.35k.
MM has a high probability of pushing the price up to the 64.45k–64.65k zone to trigger buy-stops and lure traders into a long breakout, potentially even spiking up to 65.15k–65.35k. If M30 closes below 64.35k, there's a strong likelihood of a drop back to 63.75k - 63.15k - 62.30k.
Guys, wait for BTC to retrace/spike up to 64.45k–64.80k before looking to SHORT; don’t chase the short at 64.0k. If there’s a spike up to 65.15k–65.35k but the candle closes weak, you might want to scale into your position. SL at 66.20k. TP1: 63.75k. TP2: 63.15k. TP3: 62.30k.
If BTC doesn’t bounce back and breaks below 63.75k, don’t chase the short. Wait for a retest of 63.75k–64.05k to fail before shorting again. If the price dips down to 62.30k and quickly reclaims 63.75k, that’s a bear trap; at that point, stop shorting and switch to watching for a long rebound back to 64.45k–65.20k.