On $BTC , a traditional Monday sweep setup has developed. In the first scenario, the price might surge to the 64,528 level in order to close the inverse fair value gap (iFVG); in the second scenario, it might pursue the early shorts over the 65,000 level before moving on to the Monday low target at the 62,500 level.
The fact that Spot CVD is currently nearly flat but hasn't yet begun to demonstrate volatility against the price is the only cause for concern. Any position cuts or additions would be subject to additional confirmation from volume, OI, and spot aggressive purchasing/selling.
Until we surpass the 66,000 mark, the short-term bias is still negative. Additionally, long-term bearish bias won't shift until we see confirmation above the 72,000 mark.
The fact that Spot CVD is currently nearly flat but hasn't yet begun to demonstrate volatility against the price is the only cause for concern. Any position cuts or additions would be subject to additional confirmation from volume, OI, and spot aggressive purchasing/selling.
Until we surpass the 66,000 mark, the short-term bias is still negative. Additionally, long-term bearish bias won't shift until we see confirmation above the 72,000 mark.