🎯 Trade Setup: $BTC
Direction: Short 🔴
Entry Zone: 66,800 – 67,200
Stop Loss: 68,150
Take Profit 1: 65,000
Take Profit 2: 64,100
Take Profit 3: 63,500
📊 Market Analysis:
Bitcoin is currently exhibiting a Bearish Market Structure on the 1H timeframe. After a sharp decline from the 68,000 zone, we saw a minor relief bounce that failed to create a Higher High, resulting in a Lower High (LH). The price is currently hovering around 66,459, showing signs of exhaustion near the local mid-range.
We are seeing a clear Liquidity Grab above the 68,000 level followed by an impulsive move down, signaling institutional distribution. The "SMC" perspective suggests that the recent wick down to 64,918 swept internal sell-side liquidity, but the lack of a strong V-shape recovery indicates further downside potential.
⚡ Key Reasons:
• Break of Structure (BOS): Price broke below previous HL, confirming a shift in momentum.
• Resistance Rejection: Strong selling pressure visible at the 68k handle (24h High).
• Volume Confirmation: Bearish candles are supported by higher relative volume compared to the retracement.
• Bearish Order Block: A clear supply zone sits around 67,200, acting as a magnet for a "sell-the-rally" setup.
📈 Pro Tip:
Always wait for a Lower Timeframe (LTF) shift (like a 5m/15m CHoCH) within your Entry Zone before hitting the button. Precision is the difference between a trader and a gambler! 💎
⚠️ Disclaimer:
This is not financial advice. Always manage your risk and use appropriate leverage.
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