picked up some $120K strike calls expiring end of the month for $BTC
Sentiment’s is super bearish, even mine. and whenever I feel like this, price usually is ready for a bounce.
even if the price keeps dropping, I don’t believe it will happen in a straight line
$BTC price ran the lows, grabbing liquidity below 👀
Now waiting for a MSB for confirmation.
No MSB = No trade.
Also aligns with a potential 1H trend recovery and gap fills
Patience is part of the edge, but it’s been tough not to get chopped in this chopfest since Friday 🫠
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Update 🧵👇
I believe $ETH looks way better vs $BTC here than $SOL
$ETH just retested the YO + Weekly OB during this liquidation and even printed a clean SFP, looks like it’s gearing up for the next leg up.
If you’re a bulliever and believe $BTC still has a next leg up, price is approaching a zone where a bottom could form. 👀
We might still dip into the 12H OB ~115K to set the lower high, but I’d love to see a bounce from this daily breaker zone.
man, yesterday’s crash felt worse than FTX and covid cash to me 🫠
Haven’t seen so many things break or been caught off guard like that
Hope everyone’s holding up, as much as possible
Covid crash: $1.2B in liquidations
FTX crash: $1.6B in liquidations
Today: $19.31B in liquidations
You wished you bought during the COVID crash.
This is your COVID crash.
As for $ETH, it’s retesting the 12H breaker right now. If you believe the run isn’t over yet, this is already shaping up as a solid setup 💪
Can start scaling in here and set some bids below 4K again, with invalidation at the low. needs to hold that low, otherwise RIP 💀
If you’re a bulliever and believe $BTC still has a next leg up, price is approaching a zone where a bottom could form. 👀
We might still dip into the 12H OB ~115K to set the lower high, but I’d love to see a bounce from this daily breaker zone.
@LSDinmycoffee did the analysis and added the projection of the short position to the chart one day after the FOMC, but forgot to place the orders 🫠😭
I think I messed up on one that could’ve been pretty much the top of the EU pair 🥲