View of a sidelinor on $BTC
Positive Points:
-Lots of spot buying
-Bullish structure on LTF and HTF
Negative Points:
-120k boss level we never had a meaningful structure above. Rejections are aggressive, see chart.
-Government shutdown could be extended (negative even if markets are being irrational)
Do we reject? I don't know but my system says short.
Its hard to hold a bearish argument after such a move. If I had a long, I would TP some or at least have a hedge until 123k-124.5k+ where I would then double down and go for ATH breakout long.
How I positioned: got a $BTC short at 120k, two alts longed (SOL and HYPE). ETH closely watched.
Plan is look to flip giga bullish on ATH breakout or add to my short if we close below 117.8-118k.
Aiming for a sweep of range lows at 112.8-114.7 to long.
Would not write out 107.5k revisit and maybe an HTF dump to 98k, which is definitely less likely and I do not see a true catalyst for it. Not doom posting, but just reflecting the HTF view. All the below levels are meant for me to giga long depending on circumstances.
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