think what happens tmr can decide what the short term price action looks like for majors
I really wanna say trade wars are priced in at these levels but we could also possibly see people selling the news tmr or have it be underwhelming, ppl are speculating hard right now.
still medium - long term bullish, with the amount of good catalysts this year mixed with trade wars pushing the prices down in the short term the next leg in this bull will be euphoric
We’re currently trading back inside our range. I’d like to see the day close inside the range ( $89 - $90k ).
Holding inside the range is crucial for higher probability of hitting liquidity and resistance zones above, if we lose the local low, we’re likely to drop to the support zone around $72k. I see some room locally for $BTC like the new weekly level at $96k next, if we close & hold the daily inside the range.
We’re still in bearish HTF market structure, so flipping back to bullish will be key. Also, the crypto summit in two days will probably bring a lot of volatility.
During the crypto reserve news, $SOL spiked to the daily level at $175, but rejected a day later with a dump and close outside the channel -> FOMO got rekt.
We gotta reclaim and hold the channel for more upside, need fresh strength like reclaiming $180 and $230, also flipping back to bullish market structure on HTF.
If we stay bearish on the HTF, we’re eyeing lower support, there’s liquidity on both sides with two pivots to clear out.
• After breaking the last major support, the monthly level at $2,500, we dropped to fill the Feb 3 low & to tap lower support.
• We hit the range low with a weak bounce, only clearing the Feb 3 low—still need to take out two more lows, down to $2,050.
• If we see a takeout of those last two lows at $2,050 with a strong close back above them—grabbing that liquidity—we could see a nice reversal up. But if $2,000 breaks and we lose it as support, I’m eyeing the weekly level at $1,557.
• We’re seeing a strong bounce off the CME gap, nearly fully filled, after rejecting off the key low with a bearish retest as mentioned in yesterday’s update.
• The current bounce looks solid—don’t forget, today’s the last day before the new monthly candle starts, so in the best-case scenario, I’d like to see us closing back inside the range by then.
• We need fresh signs of strength, like reclaiming the $90k ( bottom of range )—which is currently an important level—and switching back to bullish market structure on the MTF and HTF.