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#Bitcoin got second rejection from week open (at 68524). This Friday will be close for month candle - very important level for future price action. On Week/Month TF BTC remains within uptrend consolidation range. So far moves above Day 20SMA, but such moving averages rarely let the price go without meeting at least for a "handshake". So I feel like $BTC has high chances to dip below that SMA. Besides it correlates with the nearest liquidity pool. Just keep that in mind. I might be wrong, but its a highly possible. If no high volume on that potential dip, we will see BTC hunt for liquidity around 64k. Month 20SMA is growing towards ~61.5k and that is another mid term magnet for the price. Invalidation for all bearish scenarios is 4H close above 68525 - that will lead to fast re-test of ~71k and potential breakout to ATH. With all that said worth keeping in mind main bullish narrative for recent PA was Ethereum. It dropped below range middle and so prone to dip a little more to the bottom (at least to 3650). That supports idea for #BTC pulling back more as well. Nearest liquidity pools: above - 68530 / 69277 / 71300 / 71944 below - 66810 / 65860 / 64262 / 63090 SR levels to watch PA: ๐Ÿ”ธ73881 - ATH ๐Ÿ”ธ71363 - March close ๐Ÿ”ธ70393 - last W VAH ๐Ÿ”ธ68540 - week close ๐Ÿ”ธ67750 - week high / last W VAL ๐Ÿ”ธ66239 - last week open Trend: D ๐Ÿ”ผ W ๐Ÿ”ผ M ๐Ÿ”ผ ๐Ÿค‘ F&G: 73 < 72 < 72 < 74 < 75

#Bitcoin got second rejection from week open (at 68524). This Friday will be close for month candle - very important level for future price action. On Week/Month TF BTC remains within uptrend consolidation range. So far moves above Day 20SMA, but such moving averages rarely let the price go without meeting at least for a "handshake". So I feel like $BTC has high chances to dip below that SMA. Besides it correlates with the nearest liquidity pool. Just keep that in mind. I might be wrong, but its a highly possible.

If no high volume on that potential dip, we will see BTC hunt for liquidity around 64k. Month 20SMA is growing towards ~61.5k and that is another mid term magnet for the price.

Invalidation for all bearish scenarios is 4H close above 68525 - that will lead to fast re-test of ~71k and potential breakout to ATH.

With all that said worth keeping in mind main bullish narrative for recent PA was Ethereum. It dropped below range middle and so prone to dip a little more to the bottom (at least to 3650). That supports idea for #BTC pulling back more as well.

Nearest liquidity pools:

above - 68530 / 69277 / 71300 / 71944

below - 66810 / 65860 / 64262 / 63090

SR levels to watch PA:

๐Ÿ”ธ73881 - ATH

๐Ÿ”ธ71363 - March close

๐Ÿ”ธ70393 - last W VAH

๐Ÿ”ธ68540 - week close

๐Ÿ”ธ67750 - week high / last W VAL

๐Ÿ”ธ66239 - last week open

Trend: D ๐Ÿ”ผ W ๐Ÿ”ผ M ๐Ÿ”ผ

๐Ÿค‘ F&G: 73 < 72 < 72 < 74 < 75

Disclaimer: Includes thrid-party opinions. No financial advice. May include sponsored content.ย See T&Cs.
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๐Ÿ“‰ Bitcoin Daily ๐Ÿ“ˆ #Bitcoin absorbed liquidity above 69k and got rejected - so my forecast for first move up came true โœ… I wrote about 4H close above 68524 as bullish condition, but when it comes to "shooting star" candles, that condition doesn't work. Such candles should be taken with caution in any case. They indicate that sell wall got filled by stops and breakout longs, and there bulls ran out of steam, unable to push price higher. Yesterday I wrote that Day 20SMA will act like a magnet to $BTC price, asking for a dip below it. This idea remains valid. Maybe will see it today, although after the bounce, now DXY is heading down to W/M 20SMAs and April open, so again, short term crypto isn't pushed down by Dollar. Later today at 12:30 UTC PCE price index in US may cause some volatility. So in about 3 hours we will have a more clear picture. Fast dip to Day 20SMA with long tailed high volume close will be bullish. Close below same moving average will be less promising and may lead to retracement towards liquidity around 64k. Month 20SMA is growing towards ~61.5k and that is another mid term magnet for the price. Nearest liquidity pools: above - 71155 / 71944 / 72990 / 74136 below - 667511 / 65860 / 64262 / 63090 SR levels to watch #BTC PA: ๐Ÿ”ธ73881 - ATH ๐Ÿ”ธ71363 - March close ๐Ÿ”ธ70393 - last W VAH ๐Ÿ”ธ68540 - week close ๐Ÿ”ธ67750 - week high / last W VAL ๐Ÿ”ธ66239 - last week open Trend: D ๐Ÿ”ผ W ๐Ÿ”ผ M ๐Ÿ”ผ ๐Ÿค‘ F&G: 73 < 73 < 72 < 72 < 74
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