$BTC has been explosive ever since the Monthly Open reclaim
- There was point around July 10th-11th that we starting picking up momentum with CB premium + increased volume
- We are retesting the VWAP since then + holding lower Weekly VWAP bands as support
- Coinbase has been trading at a discount rn, premium completely washed away while some strong spot selling came in (likely some de-risking / profit taking ig)
- Structurally speaking, unless we are forming another range here, the lows at 115k should be defended + $115-116.5k zone should hold for continuation into 120k again. This is my current long set-up
- Plan is to accumulate a long around the support zone and target a $5k move up. The key trigger to keep holding is CB premium spiking up again on US open OR we get a sharp dip on CPI which is too good to pass up
- If no CB premium but spike up on CPI, I will TP on that pump quickly and then look again, partially already in at 116.5 with room to add if we go lower (which seems unlikely before 120)
