$BTC Sunday update:
The 1W50EMA held as support and we got the expected bounce 🔨🤝 we could get a few more retests but it's looking structurally good so far.
Invalidation is losing this level like in 2022 Q1.
Let's focus on what it could happen in the week ahead:
🧵↓ (1/5):
Let's talk about the current imbalances and possibilities:
• Long wicks:
The current 1D & 1W candles are forming a long wick but they're both filling previous wicks in their corresponding time frames which means that these new wicks that we're creating now are NOT valid to get filled.
• CME gaps:
We've just fully filled last weekend's CME gap.
We partially filled the CME gap of the weekend before. A partial fill is enough and it's not necessary to go back to fully fill it. If we drop, this won't be the reason.
Basically, we don't have any imbalances left to fill to the downside (yayyy!🤗).
The only potential magnet is the 1W50EMA which we almost tested it (we missed it by just $1k) and that would be the only argument left to justify a drop to that zone. Since there are no imbalances left as confluence, I don't have enough conviction and reasons to call for lower prices. We could go up from here, yes. That's why I personally suggest my close friends to NOT be fully sidelined waiting for lower prices and it's good to be at least 30% in from these prices, and if we actually go test the 1W50EMA at $77.3k and bounce from there then add size.
I'm much more interested in profiting here from a spot perspective rather than in futures, although we got a great short trade this week for example. I'm mainly positioned thinking that the 1W50EMA is a level that should hold as support marking the bottom in that $77k-$78k zone, so this is just a correction and not the start of the bear market unless we lose that level.
Not financial advice, just sharing my thoughts with you 🤝 I hope this makes everything a bit more clear for you
Thanks for reading such a long post lol 🔨❤️
Lastly, my album intro alone eats up everyone's album this year. I might just be delusional coz it's only me listening to it for now 😂😂😂. We'll figure that out in March. BLOWNBOY RU is coming 📀
$BTC Sunday update:
Important week ahead... first FOMC with Trump in the presidency (Wednesday).
While looking for clues, I saw this:
• Wicks to the upside but price not progressing any further at resistance. Reversal sign?
Full analysis🧵↓ (1/5):
$BTC before vs after:
Nailed! $102.4k hit 🔨
• 1hr50ema retest (expected deviation)
• push back up to $99k mid-range
• acceptance above mid-range
• move up to top range quarter for liquidations
Thank you for your support 🫶🤝