source avatarLennaert Snyder

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$BTC pumped and took out the previous weekly high. Now that Bitcoin took out the PWH, the probability of the ~$67,723 PWL is high. I took profit on the long I posted yesterday, so that's 90% closed now. Gaining the PWH invalidates my bearish thesis from yesterday, so the plan shifts alongside the market. And that's part of the game, you make a plan for the day, but always stay reactive to what happens in the market. We're not trying to predict, we're trying to react to what the market tells us. That's why I longed against my bias yesterday. A next logical liquidity target is the ~$76,030 previous monthly high (PMH). Besides being the PMH, there's external range liquidity laying there. We're trading at the highs, so executing short triggers is valid. Keeping in mind the long POI could trigger nice longs towards ~$76,030. We took lots of buy-side liquidity, so it's just a matter of time before we start grabbing sell-side liquidity towards the downside. Best case we continue the bullish trend towards ~$76,030, and after sweeping it, shorting the bearish trigger. Again, staying reactive here to what local PA does. I mostly use H4 candle closes to monitor this.

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