As mentioned before, a slow-rug phase is designed to wipe out nearly all bottom-fishing longs.

For BTC, keep an eye on the liquidity around the daily wick near $61.5k and look for a proper bullish structure before considering longs, as the $66k support zone is currently failing to hold.

+ If the sell-off continues, the next major area of interest sits around the 0.618 Fibonacci range near $57.5k.

👉For now, I'm staying on the sidelines and only looking for lower-timeframe bullish structures to scalp selected low-cap coins from the Binance Alpha ecosystem.

#BTC 8/6

+ Weekly: Bearish — medium-term trend remains to the downside. The main target is the previous swing low around $59.1k. My target $BTC long term will be ~ $57k3 - $36k

+ H4 – D1: A relief rally is currently forming, supported by a triple bullish RSI divergence on H4. The rebound target is the overhead OB / Supply zone around $65.5k–$66k, where we will look for potential short opportunities if the setup confirms.

+ Short-term: Price is still maintaining a bullish market structure. As mentioned before, this is why I advised everyone to avoid FOMO shorts. This area can easily trigger short liquidations, especially for traders using high leverage.

👉Trading Plan:
Watch the supply zone above for potential short entries.
For a safer approach, wait for my update and CE (Confirmed Entry) before taking any short positions.

For now, if price pulls back into lower support zones, I will still consider long setups for quick scalp opportunities.