I’m still seeing disbelief across the market.
People are underexposed, unpositioned, and still looking for shorts for a "healthy" retracement.
The real retracement usually comes once the urge to short has completely disappeared. Something which I have not seen yet.
$BTC is developing a new range. The upper boundary could sit around 89-95s, with the 82-84s acting as the lower boundary before the next leg towards 126.
People are subconsciously turning bullish, but I still do not see many actually longing market price. I see more trying to time the "top".
So with that in mind, my plan remains the same. We have now confirmed a HH on the weekly with a strong bullish engulfing. I am not quite sure why people thought shorting into that was a smart idea, but ok.
I think we have enough momentum to push higher (Approx 89-94). Once that happens, I expect the 82-85K area to become support and act as the floor before finally pushing to 126. That is likely the last place to build longs imo. #BTC Price Analysis# #Macro Insights#
People are underexposed, unpositioned, and still looking for shorts for a "healthy" retracement.
The real retracement usually comes once the urge to short has completely disappeared. Something which I have not seen yet.
$BTC is developing a new range. The upper boundary could sit around 89-95s, with the 82-84s acting as the lower boundary before the next leg towards 126.
People are subconsciously turning bullish, but I still do not see many actually longing market price. I see more trying to time the "top".
So with that in mind, my plan remains the same. We have now confirmed a HH on the weekly with a strong bullish engulfing. I am not quite sure why people thought shorting into that was a smart idea, but ok.
I think we have enough momentum to push higher (Approx 89-94). Once that happens, I expect the 82-85K area to become support and act as the floor before finally pushing to 126. That is likely the last place to build longs imo. #BTC Price Analysis# #Macro Insights#
