You remember my thesis of $BTC similar cycle where we will bounce in July
$BTC | GIGA SHORT π₯
We captured the 65k β 58k downside move and then flipped long from 60k β 65k while the majority of Crypto Twitter remained bearish. That's the difference between reacting to price and reacting to sentiment.
Now, the market is approaching a level where I'm no longer interested in chasing longs. If price confirms my thesis, I'll be positioning for a giga short, targeting a move into fresh lows.
Re-tweet this if you want me to post the giga short publicly again as I did with the recent longs and shorts .
Why did I take this $BTC long?
The idea is straightforward price is approaching a high confluence support zone around $74k, which also aligns with higher timeframe structure. As long as this level holds, the market still has the potential to maintain a bullish bias and deliver a relief move.
The stop loss is placed below $74k, as a breakdown and acceptance below this level would invalidate the setup and shift the overall structure bearish.
In case you like such updates make sure to re - tweet ,like and follow me .
#btc #btcusd
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