INS/BTC Scenario 2:

The Orange OB failed as a support the last time price got rejected at the local highs (red).

If the Orange OB manages to hold as support after the rejection from red, then this will show a fair degree of price maturation.

It'll show that the buyers are maturing in strength at the orange OB.

INS/BTC Scenario 3:

A stronger rejection from local highs could make INS resemble a common pattern across Altcoins for the past weeks.

That is, a Double-Bottom Higher Low hybrid. Scenario 3 assumes a rebound from the confluent support of the red Higher Low and bottom of the range (green)

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BTC/USD - 1D - 6.09 - Interestingly, BTC closed just below $10,600 but managed to break past it shortly afterwards.

While yesterday BTC's price predicament resembles the previous blue circle, today BTC is resembling the black circled situation.

Should BTC close above $10,800 its main goal would be to flip it into a new support. So while a rejection didn't occur like expected today, a failed S/R flip of $10,800 (or even a rally towards the black diagonal, even if just as a wick like the previous 3 occasions) may lead to this rejection.

As has been the case for the past weeks, downside on BTC translates favourably into Altcoins whereas upside doesn't (e.g. Altcoins are visibly suffering today).

BTC/USD - 1D - 6.09 - BTC gets rejected from the black diagonal resistance and will most likely close below $10,800 today to confirm the rejection ✅

INS - This is the scenario that plays out in the end.

INS fakes out past the Higher Low (red trendline) to curl up from the Range Low (green).

INS does this by first producing a long downward wick in the search for liquidity to fuel this latest move.

INS is now at the orange Order Block (Mid-Range).

The last time INS broke past the orange area was when it 1D close above it and S/R flipped into a support (checkout my Twitter thread on INS as I covered this as it happened)

This is something I'll be looking for for INS to ensure it continues its run-up.

Check out my new blog post:

"The Bitcoin Halving - Everything You Need to Know"

In this article, I address the following questions:

- How did each of the previous two Bitcoin Halvings affect Bitcoin’s price?

- Are there any recurring tendencies as to how these two Halvings affected Bitcoin’s price?

- How could Bitcoin’s upcoming third Halving potentially affect Bitcoin’s price?

https://medium.com/swlh/bitcoin-halving-everything-you-need-to-know-4573dc5b528e

BTC/USD - 1D - 9.09 - Rejection from $10,800 is confirmed and BTC reaches $10,000 ✅