$BTC sitting in a trap right here — price grinding sideways while spot and perps bleed lower. That's absorption, not conviction.
Passive buyers are catching knives — fine for now, but this isn't demand, it's defense. Spot CVD red. Futures CVD red. No aggressive bid stepping in.
If the passive flow dries up and sellers stay heavy, this chops into a flush fast. Not the time to hero long into weakness.
Watch the CVD. If it doesn't stabilize or flip, the range breaks down, not up. Manage size here — this isn't a dip to load, it's a setup that needs proof.
Passive buyers are catching knives — fine for now, but this isn't demand, it's defense. Spot CVD red. Futures CVD red. No aggressive bid stepping in.
If the passive flow dries up and sellers stay heavy, this chops into a flush fast. Not the time to hero long into weakness.
Watch the CVD. If it doesn't stabilize or flip, the range breaks down, not up. Manage size here — this isn't a dip to load, it's a setup that needs proof.
