Monthly close coming up — a big inflection point for $BTC.
This monthly candle is massive. We haven't seen a move like this in a while, and now all eyes are on how we trade into and out of the monthly open.
Two main scenarios:
1. If $BTC keeps ripping into the new monthly open, I'm watching for a sweep of the highs and then a reversal. That could set up weakness in the first few days of the month.
2. If we sell off into the monthly pivot now, that weakness could fuel a strong rally once the new month starts.
There's also the simpler path: a quick pullback, a higher low, and then continuation higher. Given the strength of this candle, that's on the table too.
The key is structure and how price behaves around the monthly open. The setup into this close will tell us a lot about what's next.
Watch the chart. Watch the levels. Let price show its hand.
This monthly candle is massive. We haven't seen a move like this in a while, and now all eyes are on how we trade into and out of the monthly open.
Two main scenarios:
1. If $BTC keeps ripping into the new monthly open, I'm watching for a sweep of the highs and then a reversal. That could set up weakness in the first few days of the month.
2. If we sell off into the monthly pivot now, that weakness could fuel a strong rally once the new month starts.
There's also the simpler path: a quick pullback, a higher low, and then continuation higher. Given the strength of this candle, that's on the table too.
The key is structure and how price behaves around the monthly open. The setup into this close will tell us a lot about what's next.
Watch the chart. Watch the levels. Let price show its hand.
