Bitcoin still playing within this range, not bullish or bearish imo. As long as we hold the range low then of course the only other option is to test the mid-range and potentially the top of the range. We currently had a nice bounce (spring-like candle) off of demand/range low and want to see us flip the level of 19.6k before testing 21.5k. At that point I'll seriously consider it tests some supply still sitting above around 23.6k, given we can flip range eq (S/R level) and at that point I will re-evaluate. No point in assuming PA before we have some data to work with, I'd rather not throw a dart blind-folded.
Invalid below our macro low of course (or a candle close on HTF below the range low) and would expect a significant drop if that happens, but for now there is no reason to assume/believe that will happen imo. The only argument for this is that it is in line with the macro trend downward.
Stay objective and manage your risk by using stop losses if you're entering in this area. R/R in this area is better with tight invalidations.
V
Invalid below our macro low of course (or a candle close on HTF below the range low) and would expect a significant drop if that happens, but for now there is no reason to assume/believe that will happen imo. The only argument for this is that it is in line with the macro trend downward.
Stay objective and manage your risk by using stop losses if you're entering in this area. R/R in this area is better with tight invalidations.
V
Vatsik