$BTC has been chopping inside this range for three weeks. We've swept the prior month high but haven't touched the prior month low yet.
Price just reclaimed range support after a quick deviation below — took out long liquidity down there — but I'm not leaning bullish here.
Look at the 2022 fractal: after the explosive breakout from the bottom, we formed another range, traded it for 18 days, then sold off hard into key support. That support held and we pumped ~20% off the lows.
If we're running the same script now, we could still see another sweep below range lows before the real continuation kicks in. I'm watching for that flush. Not chasing strength until structure confirms.
Range low is the line. Below it, I'm looking for support to hold and flip long. Above and holding, I'll reassess. Right now? Neutral with a bias toward one more shakeout.
Price just reclaimed range support after a quick deviation below — took out long liquidity down there — but I'm not leaning bullish here.
Look at the 2022 fractal: after the explosive breakout from the bottom, we formed another range, traded it for 18 days, then sold off hard into key support. That support held and we pumped ~20% off the lows.
If we're running the same script now, we could still see another sweep below range lows before the real continuation kicks in. I'm watching for that flush. Not chasing strength until structure confirms.
Range low is the line. Below it, I'm looking for support to hold and flip long. Above and holding, I'll reassess. Right now? Neutral with a bias toward one more shakeout.
