$BTC
From a purely structural standpoint, there’s nothing bearish right now. Does that make me bullish? No. But based purely on the current PA, that’s the truth.
We have flipped the april high + held the monthly open 76K previous range highs.
If you’re looking for shorts, the smartest approach is to wait for clear structural acceptance. At the moment, that confirmation isn’t there, we’re still trading above the April range highs.
A potential short setup would only come into play if BTC starts to move back below the April highs and shows convincing signs of bearish acceptance. That would open the door for scalp shorts targeting a move back toward the monthly open. Until then, shorting here is essentially betting that this move above the April high is just a deviation. If it’s not, price could continue higher, making shorts risky.
On the hand, this isn’t an ideal place to look for longs either. The optimal long entries are on strong range retest lower, around the 74–75K region. Chasing at these levels is risky, and there’s no need to force anything out of FOMO after missing the initial move.
As always, markets move through phases of redistribution and reaccumulation. Eventually, a clearer range will form, providing better context and better quality opportunities.
Until then, It's a waiting game.
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