Arriyan

BTC Bull Case - Pennant forming while there's liquidity below?

Long
BINANCE:BTCUSDT   Bitcoin / TetherUS
A few weeks ago I published an idea. Here I projected a scenario in which we would wipe out the liquidity resting below US$ 59.200. This has not happened yet, deviating from a pattern that has been driving this rally it's growth until now (three times already). History doesn't necessarily have to repeat itself, but I do find it kind of scary. I feel like it's impossible to just have the dip like that, so mild and peaceful. I feel like there haven't been any real shake out yet. Usually the market really isn't that kind to holders and traders. People have to feel pain, fear and the reality of facing losses before price usually is able to move up again... But you know, who am I to say the dip isn't over.

In case it's (the dip) over and we're able to move another leg up, here's my bull case;
Maybe a little more consolidation within the pennant we're forming, followed by a moonshot towards the higher 80's/mid 90's. I'm selling my positions once we get there and I will start swing trading only, again. No need to be 65% allocated at the top of the market! Take profits on time and don't get too greedy boys (and girls).

I feel like I should mention that my projections when it comes to BTC macro structure haven't been too accurate lately (except for my dip timing). So don't rush in acting on this chart, because I'm just trying to look at the chart objectively with simple TA.

There's a $1.500 CME gap btw, worth mention for the CME Open liq. draw

BTC1!
BTCUSDT

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