In my last update, we talked about the possibility of getting a drop as the POC of the rise moved up.
We ended up getting a drop of over 8% after I posted my idea, took the liquidity below 18,519 then pushed back up and rejected the 1h OB at 20,185.
I usually don't do hindsight analysis as you guys know, so sorry for not sharing the levels before they got hit but I was very busy.
For the levels above us (if we move up):
- 20.5-20.7k (liquidity + new quarterly pivots)
- 21.4k (high volume node, developping POC)
- 22k (inefficiency pocket)
For the levels below us I'm just looking at 18.1k
However, there is something you HAVE to be aware of.
The S&P500 closed below the lows on friday, the monday open will be crucial for bitcoin.
If we don't get a failed auction and continue the move down, I'm expecting bitcoin to take the 17k low.
If we end up getting a failed auction and the S&P starts showing strength, I'd like bitcoin to fill the inefficiencies at 22k.
So keep an eye on the S&P on monday, the moves will be important.
Any questions?
Good luck traders
Remember not to break your rules
Habib
We ended up getting a drop of over 8% after I posted my idea, took the liquidity below 18,519 then pushed back up and rejected the 1h OB at 20,185.
I usually don't do hindsight analysis as you guys know, so sorry for not sharing the levels before they got hit but I was very busy.
For the levels above us (if we move up):
- 20.5-20.7k (liquidity + new quarterly pivots)
- 21.4k (high volume node, developping POC)
- 22k (inefficiency pocket)
For the levels below us I'm just looking at 18.1k
However, there is something you HAVE to be aware of.
The S&P500 closed below the lows on friday, the monday open will be crucial for bitcoin.
If we don't get a failed auction and continue the move down, I'm expecting bitcoin to take the 17k low.
If we end up getting a failed auction and the S&P starts showing strength, I'd like bitcoin to fill the inefficiencies at 22k.
So keep an eye on the S&P on monday, the moves will be important.
Any questions?
Good luck traders
Remember not to break your rules
Habib