$BTC


The 1W 21EMA and the 78.4k HTF SR level were both key areas of interest for me particularly due to their confluence. I had highlighted these levels consistently and even shared a short setup in that region, which is now performing well in profit.
While there was some potential for continued upside, the lower timeframe structure told a different story. Price remained compressed within a defined range/value area, and the failed breakout above followed by swift acceptance back inside signalled underlying weakness and failed auction.
This price action pointed towards downside as the higher-probability move, which I noted shortly before the drop materialised.
Some key levels to watch next:
H4 100 MA 75.8k
Daily 21 EMA 75.2k
Weekly 12 EMA 74.1k
PWL 73.6k
Daily 100 MA 72.8k
Daily VAH + 50 MA 71.9k
Daily POC + 0.618fib 67.8k / 67.3k
Daily VAL 65.7k
#btc
BTC-0.6%
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