$BTC — Strong Support Reaction Signaling Relief Bounce Potential
Long $BTC
• Entry: 66,100 – 66,500
• Stop Loss: 65,500
Targets:
• TP1: 67,400
• TP2: 68,000
• TP3: 68,600
$BTC printed a strong rejection wick near the 65,888 support zone, signaling clear absorption of sell pressure. The reaction suggests short-term downside exhaustion, with buyers stepping in aggressively at demand.
Price is attempting to carve out a local bottom structure on lower timeframes, and momentum is beginning to shift. This setup favors a relief bounce toward the moving average cloud and prior intraday supply zones.
The key confirmation level sits above 67,300 — a strong push through that area with volume expansion could trigger continuation toward the 68K liquidity pocket.
Bullish bias remains valid as long as price holds above the 65,500 invalidation level. A breakdown below would weaken the recovery structure and delay upside continuation.
Watch for increasing buy volume and strong candle closes above resistance.
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