GM, looks like they might be going with a more aggressive scenario, sweeping the previous monthly high at the start of May (taking out short stops) before moving back into range and setting a range high.
I’d be very careful longing into the sweep. I’ve got a feeling it retraces fairly quickly on the HTF through the rest of May.
This kind of move typically shows up at the start of a new month, it’s pretty textbook, hence why I derisked my the add on my short at BE.
I’ve also placed another small short add at 79.5K in case we sweep the previous monthly high (which is likely now), which should further improve my average from 76K, similar to the last add. SSL remains the same. 1W closure above 83K. No HSL. $BTC
$MASK structure looks clean. Resistance has been reclaimed and now holding as support.
If price keeps accepting above this zone with consolidation, continuation to the upside becomes likely. Higher timeframe setup, so this one may take some time to play out. #Mask