Bitcoin remains range bound between last week's high and Monday's low which is near the $68300 area.
The 15-minute chart shows lower highs forming and suggests price may break if Monday's low fails to hold.
Tyler's chart signals that any continued move below $68300 may trigger a sharper drop toward earlier support.
Bitcoin is hovering near a critical level on the M15 chart, with traders watching Monday’s low as a key trigger for direction. Tyler, a trader known for precision charting, shared the chart on May 27, showing BTC locked in a tight range. The setup suggests that holding above Monday’s low could favor bulls, while a breakdown may lead to a continuation downward.
Source: X
The 15-minute (M15) chart highlights Bitcoin’s recent structure after failing to sustain momentum from last week’s high. Price action has compressed within a descending channel with clear rejection near Monday’s high. The move down has put Monday’s low at the center of attention for short-term positions.
Tyler's update gained over 20.7K views on Twitter within 12 hours, signaling high engagement among day traders and scalpers. According to the post, the longer Bitcoin trades above the Monday low, the better the outcome may be for bullish bias. Conversely, failure to hold that level could prompt further downside pressure.
Key Intraday Levels Guide Short-Term Outlook
The chart features several horizontal levels, including Monday’s high, Monday’s low, and last week’s high and low, which structure the setup. Bitcoin price is currently trading below the Monday high and slightly above the Monday low, indicating an indecisive range. This compression reflects uncertainty as traders await a breakout or breakdown.
The annotated blue arrow on the chart signals a possible breakdown below Monday’s low, projecting continuation if the level gives way. Traders who are short want to see confirmation via strong downside movement beneath that zone. If the market remains sticky around Monday’s low, bulls may find renewed support.
Last week’s high also serves as a key resistance. BTC has rejected this level multiple times, building a case for it to remain significant in upcoming sessions. On the downside, last week’s low and the chart low are visible supports where demand may resurface.
The visual breakdown of trendlines converging downward further supports the range-bound pattern. Each lower high has been respected, making the Monday low the line in the sand for intraday bias. Volume data was not provided but will be critical in confirming the breakout direction.
Chart Confluence Suggests Indecision as Market Awaits Confirmation
A follow-up post from Tyler provided additional confluence using a separate indicator chart to reinforce indecisive market conditions. This secondary visual shows Bitcoin near equilibrium across multiple levels, supporting the neutral stance seen in the price chart. With no clear breakout or breakdown, traders remain cautious.
Monday’s low holds particular importance due to its role in short positioning and the reaction it generates across short timeframes. As noted in the post, aggressive continuation below it would favor shorts, while holding above could benefit longs. For now, Bitcoin remains range-bound between short-term pressure and long-term structure.
The question remains: will Bitcoin hold the Monday low and build higher, or will it confirm continuation to the downside?
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Bitcoin Tests Monday Low At $68,300 As Short Sellers Watch Breakdown
Bitcoin remains range bound between last week's high and Monday's low which is near the $68300 area.
The 15-minute chart shows lower highs forming and suggests price may break if Monday's low fails to hold.
Tyler's chart signals that any continued move below $68300 may trigger a sharper drop toward earlier support.
Bitcoin is hovering near a critical level on the M15 chart, with traders watching Monday’s low as a key trigger for direction. Tyler, a trader known for precision charting, shared the chart on May 27, showing BTC locked in a tight range. The setup suggests that holding above Monday’s low could favor bulls, while a breakdown may lead to a continuation downward.
Source: X
The 15-minute (M15) chart highlights Bitcoin’s recent structure after failing to sustain momentum from last week’s high. Price action has compressed within a descending channel with clear rejection near Monday’s high. The move down has put Monday’s low at the center of attention for short-term positions.
Tyler's update gained over 20.7K views on Twitter within 12 hours, signaling high engagement among day traders and scalpers. According to the post, the longer Bitcoin trades above the Monday low, the better the outcome may be for bullish bias. Conversely, failure to hold that level could prompt further downside pressure.
Key Intraday Levels Guide Short-Term Outlook
The chart features several horizontal levels, including Monday’s high, Monday’s low, and last week’s high and low, which structure the setup. Bitcoin price is currently trading below the Monday high and slightly above the Monday low, indicating an indecisive range. This compression reflects uncertainty as traders await a breakout or breakdown.
The annotated blue arrow on the chart signals a possible breakdown below Monday’s low, projecting continuation if the level gives way. Traders who are short want to see confirmation via strong downside movement beneath that zone. If the market remains sticky around Monday’s low, bulls may find renewed support.
Last week’s high also serves as a key resistance. BTC has rejected this level multiple times, building a case for it to remain significant in upcoming sessions. On the downside, last week’s low and the chart low are visible supports where demand may resurface.
The visual breakdown of trendlines converging downward further supports the range-bound pattern. Each lower high has been respected, making the Monday low the line in the sand for intraday bias. Volume data was not provided but will be critical in confirming the breakout direction.
Chart Confluence Suggests Indecision as Market Awaits Confirmation
A follow-up post from Tyler provided additional confluence using a separate indicator chart to reinforce indecisive market conditions. This secondary visual shows Bitcoin near equilibrium across multiple levels, supporting the neutral stance seen in the price chart. With no clear breakout or breakdown, traders remain cautious.
Monday’s low holds particular importance due to its role in short positioning and the reaction it generates across short timeframes. As noted in the post, aggressive continuation below it would favor shorts, while holding above could benefit longs. For now, Bitcoin remains range-bound between short-term pressure and long-term structure.
The question remains: will Bitcoin hold the Monday low and build higher, or will it confirm continuation to the downside?