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
Weâre currently trading back inside our range. Iâd 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, weâre 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.
Weâre 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, weâre eyeing lower support, thereâs 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 lowâstill 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 themâgrabbing that liquidityâwe could see a nice reversal up. But if $2,000 breaks and we lose it as support, Iâm eyeing the weekly level at $1,557.
⢠Weâre seeing a strong bounce off the CME gap, nearly fully filled, after rejecting off the key low with a bearish retest as mentioned in yesterdayâs update.
⢠The current bounce looks solidâdonât forget, todayâs the last day before the new monthly candle starts, so in the best-case scenario, Iâd like to see us closing back inside the range by then.
⢠We need fresh signs of strength, like reclaiming the $90k ( bottom of range )âwhich is currently an important levelâand switching back to bullish market structure on the MTF and HTF.