source avatarTrader Steve

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$BTC bounced, failed within a day, and slid back to its prior low. I lean long, but only on a pullback into the base under the current box. No chasing. The catch: price sits below every EMA on the 4h, 12h and daily. This is a counter-trend setup. Since the failed rally, BTC has been coiling in a tight box just above the low. - Wyckoff, Elliott and Divergence all flag the same low as a bottom candidate. - The capitulation candle was the heaviest of the period. The retest printed less than half that volume, and the next bars dried up. - The 4h MACD histogram shrank sharply while price held the lows. Structure, volume and momentum agreeing on one level matters more than any single read. Divergence is the strongest piece. On the 12h, price made a lower low while RSI and the MACD histogram rose clearly. The daily showed the same on the same pair of lows, and the 1h stacked three rising RSI lows. Where I'm wrong: a 12h close below that low breaks the selling-climax retest, the wedge and the divergence anchor at once. My stop sits just under it, outside the daily lower Bollinger band. Risks: US CPI on Nov 10, and reported spot ETF outflows could force a retest of the low. Published by YTIlab · OMNISIGHT REPORT Not investment advice. All decisions and responsibility are your own.

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