source avatarLennaert Snyder

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$BTC swept the 75K September low as we discussed earlier this week. According to plan I'm long on Bitcoin here, quite a risky setup but worth it to me given the SSL we took. We saw a tiny sweep of the September low with a messy delivery to the upside. With this Saturday pump on top of that, at least a sweep of 75.8K SSL or another sweep is likely. This low could hold though, so if we sweep weekend liquidity next week but hold the low, longs after the trigger are valid. We took lots of SSL, so targeting buy-side objectives is valid. My first target is the 77.5K M.O., and the red boxes as plotted after that. The previous monthly low is currently acting as resistance on price, but for shorts I need higher retests per my system. If price keeps rejecting the PML and displaces to the downside, there's a possibility for short-continuations. I'm also cautious with longs if price rejects and moves lower for the PML, only longing clean shifts when this happens.

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