$BTC took out the 80.8K PDH and shows a little rejection again.
This rejection left a big wick on the 1H/4H, I'm personally looking to fill that wick.
So the only potential setup I see for today is a scalp-long towards the 50% wick fill at around 81K.
Statistically speaking, when price takes out the PDH, the chances of holding the PDL for the day are significantly higher.
That's why I use the 78.5K PDL as invalidation for my scalp long-thesis today.
I'm willing to look for a scalp-long if Bitcoin sweeps the 79.3K low.
When the above happens, I'll look for triggers towards the 50% wick-fill + leaving a runner open for more potential upside.
The momentum is clearly bullish, but we're also trading at HTF resistance, so I'm managing risk accordingly.
This rejection left a big wick on the 1H/4H, I'm personally looking to fill that wick.
So the only potential setup I see for today is a scalp-long towards the 50% wick fill at around 81K.
Statistically speaking, when price takes out the PDH, the chances of holding the PDL for the day are significantly higher.
That's why I use the 78.5K PDL as invalidation for my scalp long-thesis today.
I'm willing to look for a scalp-long if Bitcoin sweeps the 79.3K low.
When the above happens, I'll look for triggers towards the 50% wick-fill + leaving a runner open for more potential upside.
The momentum is clearly bullish, but we're also trading at HTF resistance, so I'm managing risk accordingly.
