It's just market makers tbh. We're stuck in a range and positioning clearly doesn't make sense here unless it's long-term or scalping. Swings just getting rekt or b/e. I want to see a deviation of 20.6k now before longing. Reclaim of 21.7k opens the door to 23-24k. Mon. open is no longer imp. imo since it hasn't acted as a relevant pivot.

Longed. Going for a ride.

Have a good weekend everyone.

One more thing. If there's no bounce i expect the low to be in when we hit 19k. Monthly closes on Wednesday.

Falling wedge spotted

https://www.tradingview.com/x/sqORAHRT/

If I had to guess - punish late shorts over the weekend, sweep 20k on Monday (assuming 20k holds for now), bear trap then full reversal.

Fresh chart. 20.6k liquidity taken (🗸). LWL swept. Liquidity resting above 22.2k.

First indication of upside would be reclaiming 20.8k (LWL). Breakout of falling wedge likely followed by momentum towards key liquidity areas (x).

In terms of downside - it's limited in my view. A quick sweep towards $19k is possible but I expect this to be a euphoria moment for bears that's quickly engulfed. In the last newsletters I said 20.7k is the technical target for the falling wedge. We reached the technical target + swept key liquidity. Upside from here is more likely (especially since key levels were not hit on the retracement - this was an inefficient flush down).

If we get a confirmed deviation of LWL, 23k is a fair first target. Any meaningful rejection at 22.2k or 23k opens the door for a retest of the falling wedge. Technical target for falling wedge is 25.2k

https://www.tradingview.com/x/krXW7QUK/

If there's going to be a miracle, it needs to happen by eod. LTC/USD possibly leading the way... Still below resistance.

https://www.tradingview.com/x/gpwghXFH/

Price respecting falling wedge so far. Bulls need to step up their game though. Lots of air above 20.1k.

https://www.tradingview.com/x/9ks9wITL/

Feels like we're going to get a liquidation spike to the downside then melt up. I don't know, but I've seen this before. Whale hunting then liquidate all retail which is in bear euphoria rn. If we make a fresh low here (below 19.8) I'm expecting a liquidation event.. above 20.1k and relief rally.

https://twitter.com/ChrisOnCrypto1/status/1563904160474562560

This song is modern yet still captures Tolkien. The choice of music for Amazon's lotr trailer, on the other hand was some hip woke garbage. And don't even get me started on the dialogue - absolutely horrendous. Completely disgusted by the bastardisation of Tolkien by the woke mob. Nothing to be done except avoid the show and pretend it doesn't exist. I am tired of these people, generally. /rant over

https://open.spotify.com/track/0gSEyG7pOFuHM05433EibX?si=9c186794442a4c6a

Zoomed in. H4 closes in 1 hr. Could rip hard from here if BTC wakes up.

https://www.tradingview.com/x/mFVk0KSV/

Game over. Once the selling stops I'll reassess.

I got stopped out just before the pump.

The last few days have been torture. Analysis is fine (I think). Execution is piss poor.

Newsletter out shortly.

Explain 'the merge' in one sentence