On the D1 timeframe, BTC dropped sharply and is now reacting at a major lower support zone. Price swept liquidity and buyers stepped in, and we will have several scenarios:
Scenario 1 (Higher Probability):
- BTC BTCUSD may still make one more sharp move down. This would likely form a long-wick candle that sweeps below support, similar to the Oct 21 setup. Price could dip into the $80k–$83k zone, grab liquidity, and then bounce.
- From there, BTC could form a double bottom, regain strength, and push higher in a much healthier structure. This kind of move fits a patient, low-risk trading approach.
BTC
87,797.71
+0.48%