Staying flat makes the most sense for me right now.
Spot bags are printing. Swing long is printing So why chase any trades here?
However, there are two scenarios from here where I would want to enter another trade
The first would be a rejection from the HTF resistance zone were currently retesting, followed by a bearish market structure shift on lower timeframes In that case, I’d look to enter a short targeting the $81.2K region where price would retest the recent breakout from the range highs
The second, and currently much more interesting setup to me, would be a long from a successful retest of those highs.
Price broke above the range with a lot of momentum, and yesterday’s daily close came in well above $81.2K. Considering that the move was also strongly supported by spot buying, this looks much more like a genuine breakout to me than a simple liquidity grab or fakeout.
If price comes back into that area and starts showing strength again, I’ll look to enter another long targeting the major
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