BTC beginning of the week: the structure is being arranged before choosing a direction


$BTC beginning of the week: the structure is being arranged before choosing a direction
The current price structure is quite similar to last week's rhythm, when at the end of the week there is often a tendency to be pushed strongly due to thinner liquidity and external factors such as geopolitical tensions.
Selling pressure is gradually increasing as the market prepares to enter the opening session of the CME futures contract, so the beginning of the week’s volatility may reflect information that has not been fully priced in at the end of the week.
I see the market through two main scenarios.
The first scenario is being rejected right at the current range and continuing to slide lower. Below, there are still areas related to the CME closing price and liquidity clusters that have not been reached, so the possibility of the price seeking to fill these gaps is reasonable in the context of cautious capital flow.
The second scenario is that the market will sweep up a bit before reversing. Notable areas are around 68.6k, and it may even extend to the 70.6k area to capture liquidity above before forming a clearer downward movement.
Regarding the flow of orders, currently, it looks quite balanced when viewed individually, and no side has complete control. Therefore, this stage leans more towards the market rearranging its structure rather than immediately starting a strong trend.
#BTC
BTC1.81%
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin

Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)