$BTC
My Current Market Thesis:
After the massive upside move that squeezed a large number of shorts, BTC is now forming a range.
On the downside, there’s plenty of liquidity to target, especially from late longs who entered during the pump.
However, before we see that downside move, I think there’s a strong possibility BTC sweeps the highs once again.
We’re already seeing shorts build up within this range, with many likely placing their SLs above the current high around $79.5K or near the poor high at $78.8K.
So overall, $BTC could still push higher, take out those short positions, and then reverse lower to hunt the liquidity sitting beneath the range.
The two major zones I’m watching for a potential retracement are:
• $70K–$71K — Imbalance / Single Prints
• $66K–$68K — Perfect retest zone / Major support
If you saw my previous post, I also shared my alpha on the timing and how I believe this setup could play out.
For now, this remains my HTF thesis for BTC.
#SP500FuturesFall #BrentDrops1.87%
My Current Market Thesis:
After the massive upside move that squeezed a large number of shorts, BTC is now forming a range.
On the downside, there’s plenty of liquidity to target, especially from late longs who entered during the pump.
However, before we see that downside move, I think there’s a strong possibility BTC sweeps the highs once again.
We’re already seeing shorts build up within this range, with many likely placing their SLs above the current high around $79.5K or near the poor high at $78.8K.
So overall, $BTC could still push higher, take out those short positions, and then reverse lower to hunt the liquidity sitting beneath the range.
The two major zones I’m watching for a potential retracement are:
• $70K–$71K — Imbalance / Single Prints
• $66K–$68K — Perfect retest zone / Major support
If you saw my previous post, I also shared my alpha on the timing and how I believe this setup could play out.
For now, this remains my HTF thesis for BTC.
#SP500FuturesFall #BrentDrops1.87%
