- Bitcoin’s session high near $69,664 is seen as a key short-term pivot.
- A breakout above $72,245 could confirm a bullish weekly continuation.
- Failure to break highs may lead to a move toward $65,300 support.
Bitcoin is approaching a key decision point as it trades near a strong intraday pivot. Analyst Lennaert Snyder outlines two possible paths depending on whether BTC breaks above or drops below its recent session high. The price movement during the early part of the week may determine the market’s direction for the next several days.
Bitcoin Price Holds Key Pivot as Traders Monitor Weekly Levels
Bitcoin has reached a strong intraday pivot near $69,664, which may influence short-term direction. According to analyst Lennaert Snyder, a move above this level could set off a bullish sequence targeting $72,245.
This weekly high, labeled as “P1,” is notable because 87% of similar highs are reached by Tuesday, based on BD statistics Snyder referenced.
If Bitcoin breaks above $72,245 early in the week, the current $67,777 low may become the new P1, acting as a new reference point. Snyder also noted that this move would support continuation longs. Price action in the early part of the week remains critical for both directions.
Liquidity Levels Below Could Attract Price if Pivot Fails
If the session high fails to break, Snyder sees a high chance of the market moving toward lower liquidity zones. He pointed to the $67,777 level as a current weekly low. A breakdown below this could expose deeper levels, particularly near $65,300, where he plans to watch for potential long setups.
This level is tied to higher-timeframe liquidity, which Snyder has mentioned in earlier updates. The visual chart shared shows both bullish and bearish paths mapped out, with arrows showing reactions to each level. These zones remain important, as Bitcoin’s next move will likely be shaped by one of these two paths.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
