As predicted, Bitcoin $BTC closed yesterday breaking below the recent range high, confirming last week's breakout as a false breakout. Currently, price has pulled back into the previous range, with lows near $62,800. Additionally, most of the remaining downside liquidity has not been cleared, so market makers will soon attempt to clear this liquidity. I anticipate the current uptrend (blue) will soon break downwards. After that, I will monitor whether price will test this breakout point again, so we can add to our short positions. Subsequently, I expect price to drop rapidly to the range low and further explore towards my primary liquidity target around $51,800.

BTC0.22%
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