ANALYSIS #BTC☀ ON 02/06: A SWEEP TO 66K COULD BE A TRAP BEFORE A DROP
BTC is still leaning bearish/markdown, with no real reversal signals yet. In the next 24 hours, the most likely MM view is: a sweep down to the 66.8k–66.2k range, then a pullback to 68.7k–69.8k to trap shorts, and if it can't reclaim 70.7k, it will continue to dump down to 65.2k–64.8k.
Preferred setup: don’t chase shorts at 67k. Wait for BTC to pull back to 68,700–69,800, then look to SHORT, with SL above 70,750, TP1 at 67,200, TP2 at 66,200, TP3 at 65,200–64,800.
Longs only for scalping: if BTC sweeps down to 66,200–65,800 and then reclaims back to 67,200, you can take a short-term long, with SL below 65,400, TP at 68,700–69,800.
3-week view: if it loses 65.2k, BTC has a high probability of dropping to 60.5k–57.1k. Only if it closes back above 70.7k, and then reclaims 74.3k, will markdown risk decrease.
BTC is still leaning bearish/markdown, with no real reversal signals yet. In the next 24 hours, the most likely MM view is: a sweep down to the 66.8k–66.2k range, then a pullback to 68.7k–69.8k to trap shorts, and if it can't reclaim 70.7k, it will continue to dump down to 65.2k–64.8k.
Preferred setup: don’t chase shorts at 67k. Wait for BTC to pull back to 68,700–69,800, then look to SHORT, with SL above 70,750, TP1 at 67,200, TP2 at 66,200, TP3 at 65,200–64,800.
Longs only for scalping: if BTC sweeps down to 66,200–65,800 and then reclaims back to 67,200, you can take a short-term long, with SL below 65,400, TP at 68,700–69,800.
3-week view: if it loses 65.2k, BTC has a high probability of dropping to 60.5k–57.1k. Only if it closes back above 70.7k, and then reclaims 74.3k, will markdown risk decrease.