The issue is the range had held for a while now

People are still holding onto their leverage exposure with a lax attitude of "summer chop might continue and new aths are imminent anyways"

This is a recipe for a trapdoor set up where we just run far lower than many are anticipating

A lot of headline risk

A lot of potential for pain

Not a place to get comfortable and certainly a place you scrutinise your positioning for upside

(im not concerned whether we are at range lows here, as I think big picture we distribute and sell into the mid 90s and potentially lower)

See you on the other side

Catch you next week

#BTC