quick $BTC update
I said I wanted to see $83K–$84K turn into support, or real acceptance above $86K
we actually got closes above $86K
but the important part is that BTC couldn’t hold them
price is now back around the old breakout area, which means $83K–$84K is no longer confirmed support. It’s a pivot again
the good part:
ETF demand stayed strong and leverage has cooled significantly
the bad part:
the latest flush has been heavily long-sided
so I’m not adding here
I want to see BTC defend $82.2K–$83K and reclaim $84.7K–$85K
If that happens, I’d look at the long side again
A 4H close below $82.2K would weaken the setup much more
the breakout happened
the hold didn’t
I said I wanted to see $83K–$84K turn into support, or real acceptance above $86K
we actually got closes above $86K
but the important part is that BTC couldn’t hold them
price is now back around the old breakout area, which means $83K–$84K is no longer confirmed support. It’s a pivot again
the good part:
ETF demand stayed strong and leverage has cooled significantly
the bad part:
the latest flush has been heavily long-sided
so I’m not adding here
I want to see BTC defend $82.2K–$83K and reclaim $84.7K–$85K
If that happens, I’d look at the long side again
A 4H close below $82.2K would weaken the setup much more
the breakout happened
the hold didn’t