$BTC rejected the range high after sweeping the previous monthly high.
The move above $81.5K grabbed a lot of buy-side liquidity and brought in fresh buyers, but it was also the local range high. The stronger-than-expected labor data added to the bearish reaction.
A healthy pullback would be expected to clear some of the sell-side liquidity created during the pump.
BTC is now back inside the range’s value area and trying to hold the 50% level I highlighted yesterday.
For now, I don't see longs as high-probability given the recent price action and market conditions.
I'm treating BTC as a range again. Shorts could become interesting around $80.7K after a clear trigger.
For longs, I'm watching the range low / VAL around $76K and the liquidity below it.
If we revisit that area, I'll wait for confirmation. A quick wick below the range could flush out buyers and potentially set up the next strong move highe.
#BitcoinETFsBiggestDailyInflowSinceJanuary
The move above $81.5K grabbed a lot of buy-side liquidity and brought in fresh buyers, but it was also the local range high. The stronger-than-expected labor data added to the bearish reaction.
A healthy pullback would be expected to clear some of the sell-side liquidity created during the pump.
BTC is now back inside the range’s value area and trying to hold the 50% level I highlighted yesterday.
For now, I don't see longs as high-probability given the recent price action and market conditions.
I'm treating BTC as a range again. Shorts could become interesting around $80.7K after a clear trigger.
For longs, I'm watching the range low / VAL around $76K and the liquidity below it.
If we revisit that area, I'll wait for confirmation. A quick wick below the range could flush out buyers and potentially set up the next strong move highe.
#BitcoinETFsBiggestDailyInflowSinceJanuary
