Daily Update — 19/07/2026
Bitcoin remains inside its established range, now retesting the upper boundary after reclaiming the point of control and uptrend anchored VWAP support. No long was taken on this bounce, consistent with the plan to avoid chasing retests of a heavily-tested trendline in a bear market context.
Highlights
Price action: BTC is trading back up toward $64,700–$65,000, pushing into the weekly POC / value area high zone (~$65,700) after finding support on the uptrend anchored VWAP near $62,300–$62,800.
No long taken: The uptrend AVWAP + POC confluence produced a bounce, but this level has been tested repeatedly — reliability is degraded. In line with the original thesis, this was treated as a level to watch, not a trade.
Resistance ahead:The key level at $67,294 and the nPOC at $67,800 remain the primary short zone overhead. This lines up with the range high identified earlier in the week — the same zone flagged for a potential fake-out short.
Short bias intact:No change to the higher-timeframe view. A rejection back through $65,700 → $64,700 would support the fake-out short thesis, targeting a rotation back to value area low (~$60,900) and potentially the weekly level near $59,550.
Downside structure:Below current price, support layers sit at $62,300 (daily level), $60,900 (blue POC), and $59,550 (weekly level) — these remain the reference zones if the range breaks down rather than up.
Plan: Continue waiting for price to reach the $65,700–$67,800 resistance confluence before considering shorts. No interest in longing this move — the higher-probability scenario remains a rotation back toward value area low, not a breakout continuation.
July 19, 2026 3.1K 1
