$BTC rejected the 85K area and flushed out leveraged longs during the Asian session.
That 85K level has been on the radar for a while, and the reaction after the sweep was clean. If you caught the short, taking profits and moving your stop to breakeven makes sense.
The push toward 85K brought in plenty of leveraged longs, so a flush like this isn't surprising. With some of that open interest cleared out, I'm starting to find potential long setups interesting again.
The highs around 85K still look vulnerable to another test, but I wouldn't rush into a position just yet.
I'm watching 81.6K for a possible long entry, provided the right trigger appears. If BTC sweeps lower first, I'll wait for confirmation there too rather than trying to catch the bottom.
After such a sharp move during Asia, London could be quieter, with another rotation or liquidity sweep possible during the New York session.
so I'd rather wait for the data and let the market show its hand before taking a new position.
#EarningsSeason
That 85K level has been on the radar for a while, and the reaction after the sweep was clean. If you caught the short, taking profits and moving your stop to breakeven makes sense.
The push toward 85K brought in plenty of leveraged longs, so a flush like this isn't surprising. With some of that open interest cleared out, I'm starting to find potential long setups interesting again.
The highs around 85K still look vulnerable to another test, but I wouldn't rush into a position just yet.
I'm watching 81.6K for a possible long entry, provided the right trigger appears. If BTC sweeps lower first, I'll wait for confirmation there too rather than trying to catch the bottom.
After such a sharp move during Asia, London could be quieter, with another rotation or liquidity sweep possible during the New York session.
so I'd rather wait for the data and let the market show its hand before taking a new position.
#EarningsSeason
