Lennaert Snyder|Jun 02, 2026 07:30
BTC dropped sub 70K and tests important levels.
Bitcoin swept lots of higher timeframe IRL, and is now trying to hold within a bigger support zone.
For trades my plan is clear, we dropped significantly so I'm not shorting at support here.
For continuation shorts I need higher prices, and locally a scalp-long to catch a potential relief bounce is in favour it terms of RR.
We're testing the 50% of the 4H body within an imbalance, with two more imbalance below us and on a daily support level.
Lots of confluences within this box, so I'm watching reversal plays here.
We lost the previous daily low, so gaining the 74K PDH today has a low probability.
Therefore, if we sweep 71.8K IRL and get a nice bearish reaction, I'm shorting the continuation.
The current daily candle has no upper wick, so testing the 71.8K level and using it as a scalp-long TP is even more interesting imo.
Good luck everyone.(Lennaert Snyder)
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