bitcoin 69k incoming for BYBIT:BTCUSDT. P by bullstraders7
Analysis Overview Bitcoin is currently trading inside a tightening compression zone, and a highly anticipated liquidity grab looks imminent before the next major macro move. Based on the 4-hour chart structure, volume profile, and Fibonacci levels, here is my detailed outlook on how the price action is likely to play out. The Bearish Liquidity Grab (Downside Move)The Target: Price is expected to drop short-term to test the crucial 0. 618 Fibonacci retracement level around $61,263. The Reason: …
Analysis Overview Bitcoin is currently trading inside a tightening compression zone, and a highly anticipated liquidity grab looks imminent before the next major macro move. Based on the 4-hour chart structure, volume profile, and Fibonacci levels, here is my detailed outlook on how the price action is likely to play out. The Bearish Liquidity Grab (Downside Move)The Target:Price is expected to drop short-term to test the crucial 0. 618 Fibonacci retracement level around $61,263. The Reason: There is a significant amount of sell-side liquidity resting just below the recent consolidation lows. A quick wick down will sweep this liquidity, trap early breakout shorts, and mitigate strong demand zones. The Bullish Reversal (The Run to $69K)The Trigger: Once the 0. 618 Fib level is cleared and liquidity is successfully grabbed, expect a strong bullish reaction/v-shape recovery. The Target: This reversal will validate the lower ascending trendline support (yellow line) and ignite a powerful rally upward to break the upper descending trendline resistance, targeting the $67,000 to $69,000 liquidity pools. Key Levels to Watch:🎯 Immediate Support / Buy Zone: $61,260 - $61,850 (0. 618 Fib & Trendline Support)🚀 Main Upside Target: $67,326 (0. 382 Fib) & $69,000+DisclaimerThe 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 theTerms of Use.