BTC Could Be Setting Up for a Move Back Toward 64KBitcoin / U.S. dollarBITSTAMP:BTCUSDTheOnePctBTC is currently trading around an important area, and the short-term setup is starting to look interesting. The first area I’m watching is around 64K, where the Anchored VWAP and the main Volume POC are located. This should be an important reaction zone if price moves higher. From my perspective, the next move up could potentially be the final wave of the current Diametric structure. If BTC manages to reclaim the 64K area and hold above it, there is also a possibility for the move to extend higher. The Volume Footprint is supporting this idea as well. Selling pressure has been gradually weakening during the recent decline, which suggests that sellers are becoming less effective around the current area. So for now, I’m watching for a temporary bullish move toward the 64K region, with the possibility of extending higher if buyers gain more control. However, I currently see this move as temporary rather than the start of a larger bullish trend. Once this final upward wave is completed, a bearish reversal becomes the more likely scenario, with BTC potentially moving below the recent lows and creating new lower lows. The short-term bullish idea remains valid as long as price stays above the marked invalidation level on the chart. What I’m watching: Possible rebound toward the 64K area Reaction around the Anchored VWAP and Volume POC Whether buyers can reclaim and hold above this zone Weakening selling pressure on the Volume Footprint Completion of the potential final Diametric wave