BTC/USD Supply Zone Reaction Expected...!
Current price action is retracing toward a well defined supply zone between 107,016 and 108,576, an area of previous institutional selling. The expectation is a potential rejection from this zone, leading to a continuation of the broader downtrend.
If price taps into this supply and fails to break above, short opportunities become favorable targeting:
Intermediate support at 104,000.
Final target at 101,565, aligning with prior liquidity sweep.
Invalidation occurs on a strong close above 108,576.
#BTC/USD, #FOREX, VeloraFXReal
Current price action is retracing toward a well defined supply zone between 107,016 and 108,576, an area of previous institutional selling. The expectation is a potential rejection from this zone, leading to a continuation of the broader downtrend.
If price taps into this supply and fails to break above, short opportunities become favorable targeting:
Intermediate support at 104,000.
Final target at 101,565, aligning with prior liquidity sweep.
Invalidation occurs on a strong close above 108,576.
#BTC/USD, #FOREX, VeloraFXReal
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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.