After the violent & toxic order flow selling this week on 
BTC spot holders in pain, but as traders we have a few key levels to observe. READ PREVIOUS POST ^ for dates & timing. We have major weekly level at 75k & yOPEN 93.5k.
The cleanest outcome is to auction price with organic flows, how does the market find balance? We range. This can come from a squeeze up 1st to test the 93.5k supply or rip the band aid off & give us 75k test. From there? we simply need to observe all flows with zero bias as mercenary sharp shooting traders.
80K is well supported for now. 1.49billion aggregated. But as we have seen this week, key levels breaking one after another. Either way, I would enjoy a range here, why? it simply makes for better trading.
Have a great weekend all!
BTC spot holders in pain, but as traders we have a few key levels to observe. READ PREVIOUS POST ^ for dates & timing. We have major weekly level at 75k & yOPEN 93.5k. The cleanest outcome is to auction price with organic flows, how does the market find balance? We range. This can come from a squeeze up 1st to test the 93.5k supply or rip the band aid off & give us 75k test. From there? we simply need to observe all flows with zero bias as mercenary sharp shooting traders.
80K is well supported for now. 1.49billion aggregated. But as we have seen this week, key levels breaking one after another. Either way, I would enjoy a range here, why? it simply makes for better trading.
Have a great weekend all!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.