$BTC
Lows taken out ✅, took initial long here
Alright, we are below the low now. I know I said I would wait for Monday's close. But weekly open above is stretching far and lows are taken out with a large burst of liquidations + all analysis given prior still valid.
We also hit our -1 sdev target of our hash ribbon analysis, and Q4 2024 high coming up. Could end up being front run as we often see so happy to start the long here.
This is an aggressive long in anticipation of the low being reclaimed. But I mentioned why I think it will reclaim and thus being in position makes it easier to manage the trade later on. Added bonus is that this probably freshens up the timeline for you as I don't see anyone calling trades here in a situation that might very well be the most interesting prices for a long time.
This is also a half size bet of what I usually take, to be able to manage the way through.
If this long turns a loss, that's also with big repercussions for the rest of the cycle.
So it's a last long standing, one I have to take in my book.