From TradingView · · 1m 10s
Bitcoin breaks down then builds higher lows
A sharp Bitcoin selloff created a capitulation low, followed by a rising sequence that sets up a potential long trade.
In brief
A sharp Bitcoin selloff created a capitulation low, followed by a rising sequence that sets up a potential long trade. Bitcoin formed higher lows after a breakdown, creating a bullish setup with a 3.2 reward-to-risk ratio if it holds above 75800. Originally reported by TradingView.
Sharp breakdown triggers capitulation
Bitcoin fell from 76500-77350 to a capitulation low near 75061-74955 between 17:35 and 18:45, marked by a volume spike.
Price stabilizes with rising lows
After the capitulation, Bitcoin printed three consecutive higher lows at 75130, 75555, and 75809, signaling stabilization.
Supply zone marks breakdown origin
The 76522-77349 zone is where the breakdown started, acting as a key resistance level that rejected price twice before.
Liquidity sweep low at 74955
The 74955-75260 zone marks the liquidity-sweep low where aggressive selling exhausted, creating a potential reversal point.
Accumulation range below 76300
Bitcoin is now consolidating in the 75809-76114 range, just under the 76300 resistance that previously rejected price twice.
Long setup with 3.2 reward-to-risk
Entry near 75920 with stop below 75800 targets 76300 resistance for a 3.2 reward-to-risk ratio if the accumulation range holds.
The short version
Bitcoin formed higher lows after a breakdown, creating a bullish setup with a 3.2 reward-to-risk ratio if it holds above 75800.
