$BTC
During the previous range between 81–76K, the order book consistently showed buy pressure just below price throughout the entire range, eventually leading to another expansion.
We're seeing the same thing now, with buy pressure stepping in below the lows. This could lead to another breakout over the coming weeks, especially with very little sell pressure sitting above.
$BTC
During bull markets, "perfect retests" typically get front-run.
This is where consensus forms and where most are waiting before buying or entering a position. Right now, that area is 75K.
Since this rally began around 58K, these consensus areas have repeatedly been front-run, yet most are still waiting for that perfect retest before buying. This is why so many fail to make money during a bull run.
Every swing long I've entered since the bear market bottom was criticized for being too early, with the consensus expecting price to go lower and stop me out.
My most recent swing long sits at 82.5K.
See you higher over the coming months. 🃏
$BTC
"This weekly candle might be followed by another bearish candle, but this dip is made for buying." ✔️
They are not the same. This is re-accumulation before another expansion, with consistent sweeps of the lows making shorts expect lower prices.
All that's needed now is a bullish engulfing candle, which could form this week or next, before price heads towards the range highs.
My bias remains unchanged. Dips are made for buying.
Bears have until the end of this week to push price lower. 🃏
$BTC
They are not the same, Pt 2...
Those wanting lower prices will soon start comparing this weekly candle to the two scenarios that occurred during the bear market. Unlike the previous times this happened, I expect an expansion back to the upside.
Although this weekly candle might be followed by another bearish candle, this dip is made for buying, and I don't expect 75K to get swept.
This remains bullish, and 90K is coming in November/December. 🃏
$BTC
During a bear market, price typically targets short positions, making longs feel psychologically safe before eventually making a big move to the downside.
During a bull market, it's the opposite. Price tends to continuously sweep the lows, pushing participants into shorts as they target lower prices before making a big move to the upside.
Price is currently in a bull market. Sweeps are for buying.
Long your longs. 🃏
$BTC
Many are still waiting for this scenario to play out...
During bull markets, it's rare for price to give perfect retests or sweeps. Most are still sidelined, waiting for that big pullback before buying.
Price has found acceptance above this range and has been consolidating above it for a while, making the chances of this being a deviation smaller.
I was one of the very first, if not the first, to share this scenario. However, this is where I expect it to stop playing out and price to start heading higher soon.
Max pain is higher, not lower. 🃏
90K is coming in November/December.
$BTC
The liquidation cluster above the range highs around 87K continues to grow as most participants remain short while price keeps sweeping the lows.
In a ranging market, price tends to target major liquidation clusters. This time, the liquidity is sitting above the range highs.
It's only a matter of time before price targets it.
87–88K. 🧲
$BTC
Most of the lows have been swept...
Leaving the lows untouched was building liquidity and making longs feel psychologically safe near the range highs.
Now most are getting bearish, expecting lower prices at the range lows, while longs continue to get targeted and the highs remain unswept, making shorts feel safe.
87–88K. Higher.
$BTC
Price is sweeping most of the highs while leaving most of the lows unswept, building liquidity below the range lows.
This makes participants feel psychologically safe in local longs, but price will likely eventually sweep some of the lows and take that liquidity.
Ultimately, I'm still bullish on the HTF. Just waiting for 82–78K before potentially entering another swing long.
