Bitcoin is near key liquidity areas after a week of downward momentum, and traders are now eyeing untapped areas around $64,000. With price action showing potential short-term swings and H1 support under close watch, what happens next could depend on whether Bitcoin tests this low or recovers to higher levels first.
Weekend lineup sets the stage for next week’s moves
After a week of decline, Bitcoin entered a key position liquidity area. According to According to Lennaert Snyder, the market is currently forming a range that could offer clear trading opportunities in the coming week. Even if weekend trading is not its goal, observing price action now helps plan for next week’s approach.
Related reading
Liquidity is concentrated around the range high of $71,422, and the reaction to a retest of this zone will be significant. Testing the top of the range could trigger short positions if the bear market structure break (MSB) holds, or offers long opportunities if Bitcoin manages to reclaim the zone.
On the lower side, the $64,500 low and all liquidity below remain largely intact, making this a critical area to watch. When the market reaches these levels, traders will either watch for high probability reversals for long entries or a continuation of short selling if support fails.
The interaction between the range high at ~$71,422 and the low around $64,500 will likely dictate the next significant swings, providing strategic opportunities for those following both sides of the market.
Bitcoin Eyes Short-Term Breakout Before Possible Pullback
BTC is showing short-term activity that suggests a slight upward push before resuming downward movements. Scientific crypto analyst highlighted that the H1 support/resistance level at $68,000, which was rejected two days ago, has now been broken and reversed, signaling a change in near-term momentum.
Related reading
From the current pattern, a new bearish channel begins to form. Under this structure, Bitcoin is likely to wipe out near-term liquidity before moving lower. Observing these small intraday movements can provide traders with clues as to how the walk intends to reach its next major areas.
Key levels to watch include the top of the premium zone at $72,200 and the untapped accumulated liquidity above it, located between $73,000 and $74,000. These areas could attract buyers temporarily, creating a slight push towards the $73,000 region before the broader downtrend resumes. Traders should closely monitor price behavior as they approach these levels.
On the other hand, the first half support at $68,000 remains critical. A clear break below this zone could accelerate the decline sooner than expected, confirming the bearish channel. Staying aware of both the near-term upside and this key support will help identify high probability setups in the immediate time frame.
Featured image from Getty Images, chart from Tradingview.com
