I’m still seeing disbelief across the market.
People are underexposed, unpositioned, and still looking for shorts for a "healthy" retracement.
The real retracement usually comes once the urge to short has completely disappeared. Something which I have not seen yet.
$BTC is developing a new range. The upper boundary could sit around 89-95s, with the 82-84s acting as the lower boundary before the next leg towards 126.
People are subconsciously turning bullish, but I still do not see many actually longing market price. I see more trying to time the "top".
So with that in mind, my plan remains the same. We have now confirmed a HH on the weekly with a strong bullish engulfing. I am not quite sure why people thought shorting into that was a smart idea, but ok.
I think we have enough momentum to push higher (Approx 89-94). Once that happens, I expect the 82-85K area to become support and act as the floor before finally pushing to 126. That is likely the last place to build longs imo.
People are underexposed, unpositioned, and still looking for shorts for a "healthy" retracement.
The real retracement usually comes once the urge to short has completely disappeared. Something which I have not seen yet.
$BTC is developing a new range. The upper boundary could sit around 89-95s, with the 82-84s acting as the lower boundary before the next leg towards 126.
People are subconsciously turning bullish, but I still do not see many actually longing market price. I see more trying to time the "top".
So with that in mind, my plan remains the same. We have now confirmed a HH on the weekly with a strong bullish engulfing. I am not quite sure why people thought shorting into that was a smart idea, but ok.
I think we have enough momentum to push higher (Approx 89-94). Once that happens, I expect the 82-85K area to become support and act as the floor before finally pushing to 126. That is likely the last place to build longs imo.
