Intraweek Trade Setup for BTCUSDT.P
Several failed auctions on the Weekly chart showed bearish momentum; however, the Daily structure remains intact, invalidating that bearish bias. Current price action suggests Bitcoin is accumulating below resistance, a typically bullish pattern.
The Weekly candle closed above the $98,115.4 V-Level, a key area that has acted as support multiple times already; this breakout hints at further upside potential.
On the Daily chart, price confirmed a bullish Failed Auction at the $112,615.3 support V-Level, with today’s candle closing back above it. OI & CVD data indicate heavy market selling with no follow-through, meaning sellers are likely getting trapped, most of that pressure originated from the largest buy-side liquidation cascade in crypto history.
Intraday, the range is set between $122,497.0 and $101,516.5. I’m watching for a mid-range long as the Daily FA built an Internal Over & Under pattern.
⚠️ This remains a risky setup given the location, but if BTC sweeps the range lows, I’ll look for a Failed Auction long from there, or a breakout from the current range.
