$BTC If we are going to bounce, USDT.D needs to reject here.
We have the 0.5 Fib for Wave 4 and the Daily FVG here, and above this zone, there's not much but imbalance all the way up to 8.149%.
Now, BTC is weaker than anything right now. Ideally, it should've swept 72.9k by the time USDT.D tapped into this zone, but instead, we're trading much lower.
I do have some signals pointing towards a potential bottom here. However, we'll have to see how PA develops inside this zone.
Ideally, this daily session should be the bottom candle. Otherwise, things could get messy.
My BTC longs have been stopped out, both the Swing and the recent entry from 72.9k. Both stopped out exactly at the level I was expecting to invalidate the thesis.
So I'm not chasing an entry right now, even though it seems pretty obvious that we could bottom here.
We'll have to wait for those LTF confirmations before triggering a new position, as we're basically inside a no-trade zone on BTC right now.
That said, looking at USDT.D, we still have reason to believe BTC can bottom here.
We have the 0.5 Fib for Wave 4 and the Daily FVG here, and above this zone, there's not much but imbalance all the way up to 8.149%.
Now, BTC is weaker than anything right now. Ideally, it should've swept 72.9k by the time USDT.D tapped into this zone, but instead, we're trading much lower.
I do have some signals pointing towards a potential bottom here. However, we'll have to see how PA develops inside this zone.
Ideally, this daily session should be the bottom candle. Otherwise, things could get messy.
My BTC longs have been stopped out, both the Swing and the recent entry from 72.9k. Both stopped out exactly at the level I was expecting to invalidate the thesis.
So I'm not chasing an entry right now, even though it seems pretty obvious that we could bottom here.
We'll have to wait for those LTF confirmations before triggering a new position, as we're basically inside a no-trade zone on BTC right now.
That said, looking at USDT.D, we still have reason to believe BTC can bottom here.
