Bitcoin Stalls at $65,400 Liquidity as 'Staircase Up' Setup Raises Pullback Risk
Bitcoin is approaching a critical juncture as it presses towards $65,400 in liquidity while holding above its weekly 200-day moving average near $63,800. According to Kaz's chart on X, this setup highlights a possible final sweep above nearby highs before BTC retracts toward support around $62,800-$63,300.
The 'staircase up' structure described by Kaz features a sequence of higher lows and gradual upward steps, which can leave the market exposed to a faster move in the opposite direction once buyers lose momentum. This scenario is illustrated with an initial push above the current range, followed by a projected decline, the 'elevator down' portion of the setup.
The chart suggests Bitcoin could first trade into or slightly above $65,400 to take liquidity sitting around previous highs. A breakout followed by acceptance above this level would weaken the immediate bearish scenario and signal that buyers remain in control.