๐ Upside Liquidity Hunt:
Looking at the current structure, if $BTC picks up even a bit of momentum, the $119,800 โ $121,600 zone is a strong short liquidation pocket. If price reaches this area, short-sellers may get squeezed, causing a quick spike upward. But keep in mind โ if fresh buyers donโt show up at that level, a rejection from there is also possible.
๐ Downside Support & Trap Zone:
On the downside, the $116,000 โ $117,900 area is a solid long liquidation zone. If BTC$BTC
drops here, panic selling could trigger a quick wick down โ but this zone is ideal for a potential bounce. Often, market makers trap weak longs here and then reverse the move.
๐ Market Context:
Keep an eye on the DXY and US equities. If the macro sentiment stays risk-on, $BTC could get an extra push up. But if the global sentiment turns weak, these lower liquidity zones can easily get tested too.
๐ My Bias & Gameplan:
Short-term, my bias is cautiously bullish as long as the $116K zone holds. Personally, Iโm watching for dips โ if thereโs a fakeout wick around $117K with a quick reclaim, I prefer to enter there.
For upside, Iโll book partial profits above $119,800 and aim to close fully near $121,500, since sellers are likely to step in there
โ Quick Trade Plan:
Long Entry: Look for a trap or reclaim in the $117,000 โ $117,500 zone.
Targets: Partial profit at $119,800, final target around $121,500.
Stop Loss: Below $115,800 on a daily close or strong 4H candle.
Position Size: Risk only 1โ2% of total capital.
๐ Note: Always manage your risk โ the market can surprise you anytime.
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