Not much has changed here, still think most logical outcome on
$BTC for now is relief to just over 70k into our newly formed supply zone.
A subsequent rejection and fall back down to our range lows would explain the type of PA I'm expecting on alts like
$XRP, that look due for some relief right now but still should move lower after. For
$BTC this would essentially just be more ranging/consolidation before a full on reversal.
I think if we get something like below, many alts will make new lows, but some will not (like
$ETH and
$CRV) which have already grabbed liquidity from below and hit downside targets/areas of interest.
For now, let's see if we can get that move higher across the board and then we can take it from there.
12 hours later and the grind up on negative funding continues!
Love to see it!
This is the exact same signature we saw on
$BTC during our last grind up from range lows at 60k all the way to our last local high at 80k .
For now, my eyes are on just a little over 70k for a nice relief rally if we can keep this up- at that point we will once again be up against a fresh supply zone and will have to be a bit more cautious.