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$BTC | Key-Levels (1D)
Usually the first move after a significant candle opens is a fake one and currently this Month opened with a straight 8.6% push to the upside with minimal replacements.
Which means there's a high probability that this move up is a bait for trapping late longs before reversing back to the downside and going at least as low as the Monthly Open level which sits at 76.2k
The first area I'm looking for which can give us a reversal to the downside is 80.6k. What we need to look for here is acceptance below, Especially in the start of the next week.
If we do not get acceptance below 80.6k then we are going to target the liquidity at 84k region which has remained untapped from a few months and I'm personally treating it as the max upside scenario for now.
Yearly Open sits at 87.6k and it's quite unlikely that we reclaim that level inside this year. If anything we can see slight deviation above it but overall it should be respected and give us a rejection if we eventually tap there.
I will be looking to build a short from one of these areas after we see a rejection confirmed by the LTF Price Action. My Stop-loss will be manual As the invalidation of a Swing Short setup is a reclaim of the yearly open level.
For longs, I'm observing the Monthly Open at 76.2k, as well as the Weekly OB at 72.7k-73.6k region.

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