BTC Trader Sees Sweep Through Downside Liquidity Ahead
A BTC trader is predicting that Bitcoin could sweep through downside liquidity below its local double bottom near $61.6k early this week, potentially clearing stops $500 under the $62.1k low.
The current price of $63,000 is trading inside the Bollinger band, with upper resistance at $63,664.68 and EMA50 at $63,320.11, both capping upside in this bearish trend.
However, the RSI at 38.3 remains neutral, while the MACD golden cross at -216.77 hints at a momentum shift that could lead to a test of lower band support at $62,683.8 before any continuation in this price setup.