We’ve already seen more intraday movement than on most days, which reduces the probability of further downside continuation and favors consolidation or ranged behavior within current extremes. Historically speaking, the weekly and monthly opens have seen additional wicking in over 90% of cases. Moreover, around 80% of weekly first pivots were established on Monday or Tuesday. Based on this BTC data, the probability currently favors an upside move targeting the area around the weekly/monthly open or high, despite that level appearing initially unlikely.
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