The 83k level $BTC
Alright there is the bounce number 1 in the making from the important 83k level I talked about. Now I'll explain the next steps of the masterplan and roadmap to 75k which is coming ultimately imo.
Not in a straight line, not easily and not in just one day, but with patience and persistence and when most least expect it. So far so good but the market now needs to build and grab new liquidity so the path price imo takes is what I am discussing here.
Remember what I said, bounces are normal, but the market is bearish and 75k is coming indeed. Doesn't mean we can't go up substantially first and get some nice trades either, we are still inside the range I drew out and our deviating nicely. Remember the emphasis I have put on this range.
As it stands though, the deviation just let to a bounce number 1 headed right into local liquidity so far.
It would not surprise me if this was just a grab and we continue down.
But we keep our mind open and expect hourly timeframe longs just in case. For that we need the deviation to confirm though, which means a break above the local liquidity grab.
A break above the liquidity grab would logically confirm the deviation below, and simply be a good time for me to long towards range high, or another lower high depending on if
forms an mmd or not.
That's not going against my bearish bias. A market can perfectly range further and then break down ultimately.
So, if you are not in a big short from 86k like me: looking for shorts into this liquidity grab makes sense. Looking for longs on the break above makes sense, inval at the crossover.
I'm personally only looking for longs currently since I shared a big short position already and am holding.
Very simply plan, simply reacting to price, with our edge and prediction present of the range, where price moves inside perfectly so far, deviating it as it stands, but where we await confirmation.
This writing above therefore continues to support my hourly bias which is "to range", meaning going sideways until it breaks.
And I keep holding my daily timeframe shorts from 86k of course. (supporting my daily timeframe bearish bias)
And I shouldn't have to keep saying this but I keep holding my macro spot position for 60k targeting ath's (supporting my bullish macro bias).
All three biases can operate independently. Not a perma bull, not a permabear, instead using my edge to trade and make money.
With a plan in place, sponsored by the beautiful 83k level, very simple and straightforward.