As I’ve mentioned before, at the start of the month, we often see a quick move up or down to establish the first part of the “monthly range” pivot.
Right now, as long as BTC holds above the monthly wick low (64.9K), we’re likely to see a push higher to hunt liquidity near the previous wick (70-71K). If we fail to hold the monthly wick low, we could see a move down to 62–63K, which aligns with my previous range bound fractal and could act as a bounce point.
Overall, we’ve closed 5 months red, and this month ended in green with a long wick, typically an area where liquidity is built. From here, we could see one of two scenarios:
1. Hunt the top of the wick at the start of the month, then push down for the remainder of the month.
2. Hunt the bottom of the range (below 64K), then push upwards through April to fill liquidity on the wick.
Both scenarios are highly plausible. When I’m looking for triggers, I usually wait for my POIs to be tested rather than trying to guess the most likely outcome. #BitcoinPrices
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