If $BTC manages to sweep above the current highs, I'll be watching closely for signs of exhaustion.
There's still a liquidity pool sitting above 64.8K, but right now we're testing the weekly open.
If we can't reclaim and hold the weekly open, this is likely just a lower high before we move down to test the $60K region.
I'd consider taking some scalp shorts around the $65K area if price gets there.
That said, I'd keep position sizes small. We're in the final stages of this bear market, so I'd rather stay cautious than get overly aggressive on the short side.
BTCActivation price $65,000Direction ShortType ConditionalTrigger Sweep Above (Reversal Down) 65000Timeframe Short
Max Favorable +0.8%Max Adverse −0.9%Opportunity 0.50Time 0.71Magnitude 0.50Score 0.47
I believe $SOL is never reaching ATH's again. https://t.co/aKgP9MJRtV
SOLActivation price $74.8Direction ShortType DirectionalTimeframe Short
Max Favorable +1.9%Max Adverse −5.7%Opportunity 0.31Time 0.05Magnitude 0.31Score 0.20
$BTC
It is the 14th tomorrow.
I'm looking for a setup like this. We usually start to see bearish reactions after the 14th, but the RR for taking shorts isn't attractive enough for me to blindly enter without a cleaner sweep.
If we get a setup like this, I'll look for scalp shorts. If not, we could still see the usual bearish reaction after the 14th, but I'll likely sit it out because the RR doesn't justify taking the trade.
BTCActivation price $65,500Direction ShortType ConditionalTrigger Sweep Above (Reversal Down) 65500Timeframe Mid
Max Favorable +4.5%Max Adverse −2.2%Opportunity 0.81Time 0.88Magnitude 0.81Score 0.64
$BTC
We had 2 hunts of the lows. Next week the area to observe is above 64.7K.
Structure currently suggests that we take the highs before any decisive movement back down. https://t.co/kIIFoDSguf
BTCActivation price $63,873.99Direction LongType DirectionalTimeframe Short
Max Favorable +2.7%Max Adverse −3.2%Opportunity 0.53Time 0.65Magnitude 0.53Score 0.47
$BTC
700M worth of shorts will get f*cked if BTC reaches 65.7K.
Not sure about you but... If we were genuinely going to 54K, I would make sure to take out them shorts first. https://t.co/Y4W9HUenwX
BTCActivation price $64,350Direction LongType DirectionalTimeframe Mid
Max Favorable +4.0%Max Adverse −3.9%Opportunity 0.44Time 0.48Magnitude 0.44Score 0.40