😍 $BTC is flashing one of my favorite reversal setups.
A rising wedge is forming, while Spot CVD shows selling into resistance. Whales appear to be closing longs and selling spot, while perps continue pushing price higher.
Meanwhile, large ask walls around $80K–$83K are absorbing bullish pressure.
Now the big catalyst 👀
All eyes are on today’s Jackson Hole speech from Fed Chair Kevin Warsh. A hawkish tone could trigger a sharp BTC sell-off, while a dovish/neutral tone could keep the market choppy and potentially invalidate the setup.
And there’s another major factor:
💥 $6.34B in BTC options expire today on Deribit.
Expect positioning and risk to shift aggressively.
BTC is at a key decision point.
A rising wedge is forming, while Spot CVD shows selling into resistance. Whales appear to be closing longs and selling spot, while perps continue pushing price higher.
Meanwhile, large ask walls around $80K–$83K are absorbing bullish pressure.
Now the big catalyst 👀
All eyes are on today’s Jackson Hole speech from Fed Chair Kevin Warsh. A hawkish tone could trigger a sharp BTC sell-off, while a dovish/neutral tone could keep the market choppy and potentially invalidate the setup.
And there’s another major factor:
💥 $6.34B in BTC options expire today on Deribit.
Expect positioning and risk to shift aggressively.
BTC is at a key decision point.
