$BTC 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 we’re 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 swing high around $97K.
Until either of these setups presents itself, I see no reason to force a trade.
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 we’re 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 swing high around $97K.
Until either of these setups presents itself, I see no reason to force a trade.
