$BTC On the 4H chart, the bulls are controlling the market. The EMA moving-average set provides perfect support. After the price retested the Fibonacci 0.618 level (64157), it quickly bounced up. The most crucial signal on the current order book is that a large amount of short-seller liquidation liquidity is stacked in the 64500-65500 range above—especially at the 65000 integer level. If the bulls want to push higher, they must first sweep through this portion of the order book. As the price is already touching 65000, it suggests that the main force has launched its first probing wave. The critical point of the bulls vs. bears battle is very clear: there are also plenty of long positions being liquidated in the 63500-64000 area. If the main force chooses to drive downward and liquidate the longs’ stop losses, then this rally will be a false breakout. But it is more likely that since the price has already moved above 65000 and the short liquidity overhead is so dense, as long as the pullback to 64200 does not break, it will probably continue upward to fill the gap until short liquidations are triggered.

In terms of execution, it leans toward left-side trading: buy on the pullback in the 64200-64500 range, set a stop loss at 63950, and target 65500 first. After it holds steady, add more with a view toward 66500. If, at the open, it immediately breaks down on heavy volume below the 64157 0.618 level, give up the long and go short instead, stop loss at 64500, and look down to 63500. Keep position sizing under control—don’t get carried away here. Wait until the liquidity is consumed before adding.
$BTC
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