$BTC I'm still expecting a relief bounce to retest some of the recent breakdown levels.



Price has started to stabilize after the recent selloff, while volatility on the weekend remained relatively low.

But that should change later today or at the latest tomorrow as liquidity returns to the market.

If we get the bounce I'm expecting, the first level to watch will be the monthly open. A rejection there would likely lead to a relatively quick bearish continuation, where a sweep of the recent low at $72.5k becomes increasingly likely.

If price, on the other hand, manages to reclaim the monthly open, we should see a move into the key breakdown zone between $78k and $79k.

This area is not only our main liquidity target, but also lines up with multiple bearish confluences such as the Fibonacci Golden Pocket and the 200EMA.

This remains my primary scenario and the area where I believe the formation of a lower high is most likely.
BTC-0.48%
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0xLateDiner
· 5h ago
200EMA + Golden Pocket Double Kill, Bear Market Paradise
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GateUser-03ce08c7
· 7h ago
Liquidity return = volatility amplification, get ready for popcorn
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StainedGlassSolarArray
· 7h ago
If the lows and highs form, the next round will be deeper.
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GateUser-4cc35c5c
· 7h ago
The key is whether it can break above the monthly open; if it can't, then it's game over.
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MoonlightShellPool
· 7h ago
The 78-79k range is indeed awkward, both bulls and bears are waiting.
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FomoLibrarian
· 8h ago
bearish confluence 堆这么高,多头很难
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GlassDome
· 8h ago
relief bounce 剧本我熟,但别fomo
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ThinkForThreeSecondsBefore
· 8h ago
If you dare to go to 79k, I dare to short it
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FarmingNoSleep
· 8h ago
This analysis is clear and well-organized, noted.
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GateUser-76dcd439
· 8h ago
72.5k sweep sounds very painful
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