BTC to $90K-$92K Range?
I have to concur with those calling for BTC, fundamentals notwithstanding, to retest the order block formed by the wick down on 1/13.
Is this worth a short??? We are talking about a 5% drop?
I myself am inclined to eschew shorts in an oversold environment. And BTC has been fickle as #eff so far in 2025.
The best play for those who want to trade the move is to wait for confirmation of a bottom in the lower 90's and long what might well result in a short squeeze.
Thought?
- The 100d SMA, price action has closed beneath that.
- Anchor a VWAP to the 12/17 HH, price action has closed beneath that. (The order block in question is 2 standard deviations south.)
- Anchor a volume profile to the 12/17 HH, price action has closed beneath the POC, though it has broken back above repeatedly.
- Momentum has stalled, though BTC remains oversold--and both volume and money flow are weak.
Is this worth a short??? We are talking about a 5% drop?
I myself am inclined to eschew shorts in an oversold environment. And BTC has been fickle as #eff so far in 2025.
The best play for those who want to trade the move is to wait for confirmation of a bottom in the lower 90's and long what might well result in a short squeeze.
Thought?
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.