$BTC sitting on HTF support right now — clean bounce off the level.
Open interest dropped hard. Leverage getting washed out, which is exactly what we needed. Market's lighter, less froth.
Spot's still selling though. Demand isn't there yet. The pops we're seeing today? That's perp longs opening, not real money stepping in. Spot's flat or fading those same rips.
Here's the read: this is healthy. Leverage flush = cleaner setup. If real spot buyers show up, we can run. Right now we're in that reset zone where the market's prepping for the next leg.
Not chasing here. Watching for spot to confirm before I add size. If HTF support holds and OI stays light while spot starts bidding, that's the signal. Until then, this is a wait-and-see bounce off support — not a reversal yet.
Open interest dropped hard. Leverage getting washed out, which is exactly what we needed. Market's lighter, less froth.
Spot's still selling though. Demand isn't there yet. The pops we're seeing today? That's perp longs opening, not real money stepping in. Spot's flat or fading those same rips.
Here's the read: this is healthy. Leverage flush = cleaner setup. If real spot buyers show up, we can run. Right now we're in that reset zone where the market's prepping for the next leg.
Not chasing here. Watching for spot to confirm before I add size. If HTF support holds and OI stays light while spot starts bidding, that's the signal. Until then, this is a wait-and-see bounce off support — not a reversal yet.
