$BTC fresh start if an important week.
As you can see, Bitcoin started the day by rejecting the previous daily high. And is now trying to hold the ~$80,263 previous daily low.
Those who follow me know I'm already positioned short, but I'm not adding until we lose ~$78,000.
For longs, there are two scenario's that could provide my A+ setups.
The first is that we hold we daily low and gain the previous daily high, and preferably previous weekly high. When this happens I'll look for continuations.
The second one is that we retest the ~$79,000 support area and defend the ~$78,200 previous weekly low.
If the weekly low is defended successfully on the LTF and MTF, we know that we can aim for the previous weekly high. Which is laying at ~$82,853 in this case.
Losing ~$78,000 means falling back into the range, and opens lots of R to the downside.
So when the above happens, I'll keep scaling short continuations until invalidated.
Good luck everyone.
#BTC #CryptoPatience #TradeSignal