ANALYSIS #BTC☀ ON 29/05: MM HAS SWEEPED THE BOTTOM, BUT CHASING LONGS CAN EASILY TRAP YOU
BTC just swept down to 72,559 and then bounced back around 73.5k. View for the next 24 hours: the highest probability is for a recovery to grab liquidity above before further dumping back to the bottom zone.
You guys shouldn't chase longs at 73.5k. A better setup is to wait for a price retracement up to 74.8k 751 and then look to short, with SL above 75.93k, TP1 at 73.17k, TP2 at 72.56k, TP3 at 71.5k.
3-week view: BTC is still weak below 74.93k–77.58k. If it can't reclaim this zone, MM might pull it back to 71.5k–68.88k to test strong support before a stronger rebound.
BTC just swept down to 72,559 and then bounced back around 73.5k. View for the next 24 hours: the highest probability is for a recovery to grab liquidity above before further dumping back to the bottom zone.
You guys shouldn't chase longs at 73.5k. A better setup is to wait for a price retracement up to 74.8k 751 and then look to short, with SL above 75.93k, TP1 at 73.17k, TP2 at 72.56k, TP3 at 71.5k.
3-week view: BTC is still weak below 74.93k–77.58k. If it can't reclaim this zone, MM might pull it back to 71.5k–68.88k to test strong support before a stronger rebound.