Good morning, and welcome back, everyone.

Yesterday’s market activity was low, with price moving sideways for most of the day. None of the planned scenarios played out, although the 18/10 wide POC area was revisited and properly taken out today.

The profile high was poor, while the low was also poor. Overall market confidence remained high as short term sellers dominated. The POC migrated lower with price, forming a prominent POC area.

Today’s Opening

Sellers remain in control, while buyers continue to appear weak. The market opened near the previous day’s value area low and one timeframed lower, taking out the previous day’s poor low and reversed taking out the previous day prominent poc area. $BTC is now trading below the previous day's range.

Current market confidence remains high, even though price has traded back and forth through the established initial balance. As expected, a rotational day has developed.

Profile Structure

The current market profile structure is weak and truncated. The low is poor, while the high is weak. Value is building below the previous day’s value area low and inside the 18/10 value area. The POC is migrating with price, and the previous day’s prominent POC has been revisited today.

Market generated information

  • 18/10 weak low: Has not been repaired.

  • 19/10 poor high: Has not been repaired.

  • 20/10 developing weak high: Has not been repaired.

  • 20/10 developing poor low: Has not been repaired.

Possible Scenarios

Scenario 1

The current low is poor. If it holds which I doubt it it will, I expect a short term rotation toward the current high.

Scenario 2

Because the current low is poor, my short term downside target is the 18/10 weak low.

Overall Expectation

The market remains weak, with sellers dominating and no clear sign of an upward trend. I believe the market may be waiting for strong positive information, especially because significant unfinished business remains at the upside.

Thanks for reading. I’d love to hear your thoughts. If you enjoyed it, leave a review and let me know what you would like to see in the next edition.