$BTC My Bias for the day is Bearish as long as we are rejecting from 68.8k. We saw a decent rejection on daily open from this exact level which exposes the liquidity sitting below the current lows.
There is strong HTF support between the weekly open and monthly open region (67.8k–66.9k). This zone also aligns with the bottom of the bear flag / rising wedge on the HTF, making it a key area for potential bulls to hold if they want to close this month in green.
If this 67k region fails to hold, we can expect a move toward the 65.5k-62.4k region within this monthly candle. The 65.5k level is the weekly lows area where we have some untapped liquidity acting as a downside magnet. However, a move into that region would also likely mean a breakout below the trendline, increasing the probability of an extended move toward the 62k.
The scalp short from 71.9k is intended for securing quick profits, as I currently have two swing shorts running other than this scalp. So if we hold the monthly open, I will look for a hedge long and scale out of the scalp short. However, if we break below the monthly open, I will wait for price to tap the 65k or 62k regions before taking any profits or opening any hedges
