Btc

$BTC Testing the breakout level again. The wicks make it look decent but it is key to close the weekly at or above this area. You don't want to be hanging around the same support for too long. Needs to get going at some point, above $87K it should ignite some excitement again.

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$BTC That is a good example of how we often see the start of new months & quarters. Lots of volatility, choppy price action and liquidity sweeps. Usually price starts to form some sort of direction by day 5-10 which holds for the ~2 weeks following. In this case I think $84K

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$BTC That is both taken out before the CPI number even dropped.

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$BTC The $85K level broke and the late longs got flushed out. About $500M in longs got liquidated but a lot of it entered straight back in. Meanwhile, Open interest is the highest it has been in this range and Coinbase premium is deep in the negative which shows there's been a

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$BTC The $85K level has been getting tested almost on a daily basis. Every time it tends to see some sort of reaction both as support and resistance. Above, there's a lot of marginally lower highs sitting at $87K+. The same below with the $83K region. I am expecting a squeeze

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$BTC The amount of confluence sitting between $72K-$75K is pretty crazy. - Bull Market Support Band - 2024 Summer range high/Big horizontal region - 0.5 & 0.618 Fib levels from the impulse up - Daily 200MA/EMA (EMA has always been tested in prior breakouts from the bear market)

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$BTC The classic setup I love trading during big up trends. 1. Market moves up 2. Market trades sideways and chops around for a few weeks 3. Liquidity below gets swept 4. Price retakes range (this is your entry) 5. Price moves up quick to the top of the range 6. Breakout and new

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$BTC The last and first week of the calendar month have been awful places to trade directionally. The past 4 months have only seen bad market environments in those weeks. Pretty much all the action has come from the third week of the month. This usually comes after weak price

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$BTC The past year the Asia trading sessions have been the most bullish with only a slight negative return. This is while Bitcoin dropped about -28% during that time. Most downside came from the EU sessions followed by the US sessions.

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$BTC The US - Iran War has now been going on for over 7 months. We have also seen Saylor doing what was "unthinkable" before and he sold off Bitcoin just 1-2 months ago. Meanwhile, price is up 28% from the start of the conflict and even higher from Saylor's big BTC sales. Price

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$BTC There has been little action the past 2 weeks after breaking above the May highs. Price has stalled and isn't able to sustain any directional move. It has mostly just been longs & shorts getting chopped up.

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$BTC There has been quite a bit of open interest ramp up over the past two days. Well over $1.3B on Bitcoin alone has entered. Presumably the majority is longs that have built up into the price that has grinded up. Most are obviously sitting comfy but that last leg in open

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$BTC There is the sweep and liquidity grab of all those September lows. Now we'll see if the bulls can retake the $83K level and hold it. That's the key move to make. If this just dribbles lower then adjust the targets down. $75K & $72K would be the main high timeframe levels

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$BTC There it goes. Right back to the range high. Now testing this resistance it has consolidated under for the past few weeks. A break above $83K leads to a market structure break on the weekly timeframe which puts every timeframe back into a bullish market structure.

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$BTC There we go. Only an hour later we are taking that liquidity and the first shorts are starting to get taken out. This should accelerate above $83K.

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$BTC Took out a lot of the liquidity that was sitting below that $82K-$83K area. This was also the range low. Since then price has bounced due to short covering mostly. Good to watch now whether price continues above the local weekend highs at $83K+ on Monday or starts testing

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$BTC Took out that big liquidity level above $80K Just has the range high resistance and $82-$83K region left where a lot of liquidity is sitting.

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$BTC Trading back into the range and testing the 4H 200MA. Still a lot of equal highs around $84K where a good amount of short interest entered after the hot CPI print last week.

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$BTC Trading back into the range. But I do want to see spot bid sustain the move as most of it has been perp driven. First by shorts covering now by longs moving in on Sunday and Monday morning. Clear invalidation/weakness below $83K for me. Do think we'll see choppy price

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$BTC Trading well above its Bull Market Support Band. Somewhere in a new up trend, we do tend to see a retest of the band. That can happen early or late in the rally. In this case the band is moving up quickly so even if price remains at the same level, the test will come by

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$BTC Very solid reaction from that .618 fib level. Right back above the $81.5K horizontal and into the 4H 200MA/EMA. There's still a lot of untapped liquidity from last week's chop above $84K which would be the next level up for the bulls. Below, it shouldn't lose that $81.5K

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$BTC Volatile week but no major changes on the higher timeframes. Price remains stuck within the $83K May high and $74K main support level.

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$BTC Volatility has completely died the past day as price is stuck within a ~1% range. No major increase in open interest but compression like this into a CPI print later does generally cause some wicks. Would not be surprised to see both these local levels taken out on a

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$BTC We got our weekly market structure break and break from the range. It is key that this ~$83K region is held by the bulls now. Otherwise this would turn into a big liquidity grab. But the trend is your friend until proven otherwise.

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