Bitcoin has been hovering around a key liquidity zone after a week of downward momentum, with traders currently focusing on untapped territory around $64,000. With price action indicating possible short-term volatility and second-half support also being closely monitored, the next move could depend on whether Bitcoin tests this low or recovers higher levels first.
Weekend range prices set the stage for next week’s movements
After a week of downward momentum, Bitcoin enters a critical phase liquidity area. According to Lennart Snyder, The market is currently forming a range and could provide a clear trading opportunity next week. Although his focus is not on weekend trading, observing price action can help plan his approach for next week.
Related books
Liquidity is concentrated around the highs of $71,422, and the reaction to a retest of this zone will be important. If the market is bearish, testing the highs of the range can trigger short positions. structure The break (MSB) holds or provides a long opportunity if Bitcoin manages to regain that area.
On the lower end, liquidity at and below the $64,500 low remains largely untouched, making this an important zone to watch. When the market reaches these levels, traders will be on the lookout for either a high probability reversal on a long entry or a continuation short if support fails.
The interaction between the highs around $71,422 and the lows around $64,500 will likely determine the next big move and will represent a strategic opportunity for those tracking both sides of the market.
Bitcoin eyes short-term breakout before possible pullback
BTC is showing short-term moves, hinting at a slight upswing before resuming its decline. Crypto Analyst Scient highlighted The $68,000 H1H support/resistance level that was rejected two days ago has now been broken and reversed, indicating a short-term momentum change.
Related books
A new bearish channel is starting to form from the current setup. As part of this structure, Bitcoin is likely to wipe out liquidity in the short term before heading lower. Observing these small movements during the day can give traders clues as to what moves are coming. market We aim to reach the next major zone.
Key levels to watch include the premium zone high at $72,200 and the untapped stacked liquidity above that between $73,000 and $74,000. These areas may be attracted buyer It briefly creates a slight push towards the $73,000 area before the broader downtrend resumes. Traders should closely monitor price movements as they approach these levels.
On the downside, H1 support at $68,000 remains important. If we break below this zone cleanly, the decline may accelerate sooner than expected. bearish channel. Staying aware of both the short-term rally and this important support will help you identify high-probability setups in the immediate time frame.
Featured image from Getty Images, chart from Tradingview.com
