I may be optimistic, but I’m not oblivious to the current structure of the LTF market.
$BTC is now back at the top of the previous May range, an area it had previously fallen below. If this isn’t just a deviation above the highs, followed by acceptance back inside the range and a move lower, we’ll need to see a relatively quick reclaim.
Ideally, $BTC pushes back above the 84–85k area, then retests and holds the previous range low around 82.8k. If that happens, the structure will be back in place for us to trend upward.
On the other hand, if we can’t break through this barrier... we could push down to 76–78k.
Relatively straightforward. #Cobra_btc
$BTC is now back at the top of the previous May range, an area it had previously fallen below. If this isn’t just a deviation above the highs, followed by acceptance back inside the range and a move lower, we’ll need to see a relatively quick reclaim.
Ideally, $BTC pushes back above the 84–85k area, then retests and holds the previous range low around 82.8k. If that happens, the structure will be back in place for us to trend upward.
On the other hand, if we can’t break through this barrier... we could push down to 76–78k.
Relatively straightforward. #Cobra_btc