Are you watching the right data?
FireCharts reveals some shifting liquidity dynamics in the bitcoin:native order book on
@binance around $65k.
Perma Bulls and hopium addicts desperately want to see support hold at $65k.
Confluence with the macro trend line, and the quick bounce from $65.5k, make it compelling.
The fact that we are now seeing a complete retrace of the bounce - is telling.
Bears want to see price cascade down to hades.
But history has taught us that fast violent moves in either direction aren’t typically sustainable.
As a disciplined trader, you put bias on the sidelines and let the data tell you how things are likely to develop.
Is there a chance that $60k holds as the cycle bottom?
Absolutely… but I’m not rushing to close shorts or start rebuilding a long for the next bull market.
Not yet…
Instead, I’m watching the liquidity games, order flow dynamics, Timescape Levels, and weekly RSI for clues.
A successful retest of support at the trend line or 200-WMA, an exponential increase in bid liquidity, order flow, Weekly RSI reverting, and an R/S Flip at $69k would make me start closing shorts and building longs.
Making a lower low under $59.9k would make me consider adding to shorts.
At this stage - my profits on BTC and ETH shorts are locked, a series of down range TP targets are set, and I’m looking to trade the volatility in either direction as opportunities present themselves.
I won’t wait until the 4-Year Cycle theory tells me what month I should flip long - I’ll let the charts and the underlying data guide that decision.
If you want to see my full analysis, check it here...
x.com/KAProductions/status/2…