source avatarLennaert Snyder

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$BTC is barely holding the 60K low. Yesterdays daily candle closed bearish with an imbalance, and Bitcoin immediately lost the 61.5K previous daily low today. This means the probability of gaining the 64.8K PDH today is low. For longs, I need HTF shifts, in this case that would be to gain the 64.8K PDH and close the daily candle strong as a clearout with an imbalance. My bias for today is bearish, so logically I'd be looking for shorts. But we're also trading very low in the range, so shorts are all scalps for me here. If I was to enter a scalp-short today with the 60K low as target, I'd use the 64.8K PDH as invalidation. Hopefully we get that flush down or HTF shift up for fresh intraday trades. NFP today, so I'm adjusting accordingly.

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