📉 Daily Chart – Rejection from Mid-BB & Fib Cluster
BTC bounced into the 0.618–0.66 retracement zone (105,495–106,443)
Price failed to close above the mid-Bollinger Band (106,443)
Volume declining on the bounce → lack of buying conviction
RSI barely holding above 50 (52.05) → weak momentum
Price is now rejecting from the underside of broken support → classic S/R flip
Possible Dead Cat Bounce forming below structure
🕵️♂️ 4H Chart – Short Hedge Retest Opportunity
Breakdown confirmed below 104,472 HL
RSI still below 45 on the 4H → bearish momentum intact
Retest of breakdown zone with weak volume
Price capped by mid-BB + 55 SMA (105,400–106,000 region)
Structure confirms a potential LPSY (Last Point of Supply) in Wyckoff markdown
🎯 Trade Plan (RTP-Compliant Short Hedge)
Entry: ~104,800 (confirmed breakdown zone)
SL: Just above 106,443 (Fib + BB basis + 55 SMA)
TP1: 103,300 (Lower BB)
TP2: 101,500 (Lower channel bound)
TP3: Trailing 1.0% below 101,400
⚠️ Summary
BTC's bounce lacks volume, RSI strength, and structural reclaim. Unless bulls close above 106,443 with force, this setup favors a continuation lower.
BTC bounced into the 0.618–0.66 retracement zone (105,495–106,443)
Price failed to close above the mid-Bollinger Band (106,443)
Volume declining on the bounce → lack of buying conviction
RSI barely holding above 50 (52.05) → weak momentum
Price is now rejecting from the underside of broken support → classic S/R flip
Possible Dead Cat Bounce forming below structure
🕵️♂️ 4H Chart – Short Hedge Retest Opportunity
Breakdown confirmed below 104,472 HL
RSI still below 45 on the 4H → bearish momentum intact
Retest of breakdown zone with weak volume
Price capped by mid-BB + 55 SMA (105,400–106,000 region)
Structure confirms a potential LPSY (Last Point of Supply) in Wyckoff markdown
🎯 Trade Plan (RTP-Compliant Short Hedge)
Entry: ~104,800 (confirmed breakdown zone)
SL: Just above 106,443 (Fib + BB basis + 55 SMA)
TP1: 103,300 (Lower BB)
TP2: 101,500 (Lower channel bound)
TP3: Trailing 1.0% below 101,400
⚠️ Summary
BTC's bounce lacks volume, RSI strength, and structural reclaim. Unless bulls close above 106,443 with force, this setup favors a continuation lower.
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Protect your Bitcoin investment with our realtime alerts and fully automate your trading. No more sleepless nights, black swans, rug pulls, whale pump & dumps or getting sidelined.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.