$BTC rejected the wick, and yesterday’s exhaustion short is playing out nicely.
I personally took the short after the rejection around $79K and held it overnight. The full TP at the $77.3K low eventually got hit while I was asleep.
I would’ve kept a runner, but that’s part of trading.
We still have a large daily wick that was only partially filled, so I wouldn’t be surprised to see price revisit it eventually. There’s also plenty of liquidity sitting below the recent lows.
With BTC around the $76.9K VAL, local scalp longs could make sense if we get a clean reaction toward the wick fill. That said, I’m being more cautious today with the CLARITY Act vote ahead.
For me, a deeper sweep around $76K PWL or even the $75.5K low would make a much better area to look for HTF longs, especially if we get a sharp wick below $75.5K followed by strong displacement back up.
Already sitting on decent profits this week, so there’s no reason to force a trade today.
#SECChairUrgesCongressToAdvanceClarityAct
I personally took the short after the rejection around $79K and held it overnight. The full TP at the $77.3K low eventually got hit while I was asleep.
I would’ve kept a runner, but that’s part of trading.
We still have a large daily wick that was only partially filled, so I wouldn’t be surprised to see price revisit it eventually. There’s also plenty of liquidity sitting below the recent lows.
With BTC around the $76.9K VAL, local scalp longs could make sense if we get a clean reaction toward the wick fill. That said, I’m being more cautious today with the CLARITY Act vote ahead.
For me, a deeper sweep around $76K PWL or even the $75.5K low would make a much better area to look for HTF longs, especially if we get a sharp wick below $75.5K followed by strong displacement back up.
Already sitting on decent profits this week, so there’s no reason to force a trade today.
#SECChairUrgesCongressToAdvanceClarityAct
