Current Price: $94,390POC: $96,752Liquidity Zone (LIQ S): $102,531
Bitcoin is showing some clear signs of a potential breakout โ but the direction still hangs in the balance! Letโs break down whatโs happening:
๐ธ Price Below POC: The price is currently trading below the Point of Control (POC), which often indicates bearish pressure. If buyers donโt step in soon, we could see more downside.
๐ธ VWAP as Dynamic Support/Resistance: The yellow VWAP line has been a key player in previous moves. Right now, price is under VWAP, suggesting sellers are still in control.
๐ธ Liquidity Pool Above: Thereโs a clear liquidity zone around $102,531, which could act as a magnet if buyers take control โ but first, weโd need to reclaim the POC.
๐ธ Low Volume Area: Price is sitting near a low-volume node. If we break down from here, thereโs a good chance weโll see a quick move toward the 90Kโ92K support zone.
๐ธ Market Cipher Showing Bearish Momentum: The current wave formation on Market Cipher B suggests ongoing bearish sentiment. Weโll need to watch for any potential bullish divergence for signs of reversal.
๐ Potential Scenarios:
๐ป Bearish Case: Rejection from POC and continued selling pressure could push BTC toward the 90Kโ92K region.
๐ Bullish Case: If BTC reclaims the POC ($96,752) and holds above it, we could see a run toward the 100Kโ102K liquidity zone.
๐ Key Levels to Watch:
Support: $90,000 โ $92,000
POC: $96,752
Resistance: $100,000 โ $102,531
๐ก My Plan: Watching for a retest of the POC โ if we reject, Iโll look for short opportunities down to 92K. If we reclaim and hold above, Iโll be targeting the liquidity grab at 102K.
Letโs see how this plays out! ๐ฏ
#Bitcoin #DayTrading #MarketCipher #VolumeProfile #TechnicalAnalysis