$BTC Patience wins in this game. After extended periods of consolidation in bull markets, expansion eventually follows. Price has now slowly been grinding lower for the past month and a half, and at this point, downside is limited. Sooner or later, we will see the next explosive move to the upside, whether you like it or not. It’s your decision whether you stay patient enough to be positioned for it or get shaken out instead.

$BTC After front-running the previous low, price has bounced strongly off the lower boundary of this range and is now testing our mid range S/R level around $77.6k. The reaction at this level will likely decide whether further upside from here is possible. If buyers are able to reclaim the grey zone, we should see a continuation towards the previous high at $78.8k. Should sellers, on the other hand, step back in here and keep price below this area, we will likely revisit the lows soon.

$BTC You’re simply not prepared for the kind of short squeeze we’re soon going to see. Over the past 2-3 months, futures CVD has moved lower aggressively while open interest has continued to build. This suggests that perps have been heavily leaning short, with futures CVD now sitting around levels last seen near the bear market bottom. If spot demand starts picking up from here and selling pressure begins to fade, I believe these shorts could quickly become fuel for a major move back to the upside. There is a lot of leverage waiting to get squeezed, and once momentum shifts, I expect the move to be violent.

$BTC This is actually insane. Short liquidations currently outweigh long liquidations by roughly 2:1, yet one more push lower seems possible. If price drops to $74k, another $5B in long liquidations would get triggered. However, beyond that, there’s not much liquidity left below, which is why a final sweep lower followed by a larger reversal remains my main scenario.

$BTC The two main levels I’m watching for a bounce are the 0.5 Fib level and the Golden Pocket. During larger pullbacks in bull markets, price tends to respect these levels really well. Looking at the past cycle, you can actually see that price bounced off one of these two levels during every single correction we saw. Considering that most of the remaining downside liquidity sits right below the previous low at $75k and pullbacks are getting shallower each cycle, I favor a bounce from the 0.5 Fib level. However, a retest into the Golden Pocket is also something that wouldn’t surprise me and a scenario I‘m prepared for. For now, we’ll have to wait for price to approach $75k and see how it reacts right after the sweep. If bearish momentum continues to be strong, we might see a continuation lower, while if buyers immediately step in, this could be the local bottom.

$BTC BTC is once again trading between two larger liquidity clusters. The one to the upside sits right above $79k and lines up well with my area of interest for shorts. In case of a sweep, I will look for additional confirmation to enter a short targeting the recent lows around $76k. On the downside, however, we have two clusters that stand out. First, some short term liquidity around $77.5k to $76.5k, followed by another cluster sitting deeper around the previous HTF low at $75k. I’m expecting all of these clusters to get taken out sooner or later, but I’d prefer a move into the upper cluster first, as that would trigger my short scenario.

$BTC Interesting. Both spot and futures CVD are grinding higher, yet price is still getting rejected hard from the $79k area. This creates a bullish CVD divergence and is considered an early sign of a potential reversal. Of course, this doesn’t guarantee a move to the upside and we’ll still have to wait for structure to confirm the move, but it’s definitely something worth keeping an eye on.

$BTC There is absolutely nothing to worry about. The bottom is in, and this correction is close to being over. We might sweep the $75k low or even retest the low $70ks, but ultimately, we’re going a lot higher. Anyone who doesn’t accumulate as much BTC as they possibly can within the grey zone will get left behind soon and regret not acting on one of the best buying opportunities left in this cycle. I personally have already deployed roughly 90% of my capital and am looking to increase my spot exposure one last time if we sweep the previous low around $75k. I’ll see you after the next leg up. No doubt about it…

$BTC Looks like we’re forming a LTF range after last week’s selloff. Price has now first swept the lows and then the highs, but so far continues to consolidate between $76.5k and $79k. These are now the two key levels to watch and should offer some good scalping opportunities. If we get a sweep of the lows followed by a close back inside the range, it’s valid to take a long. $79k, on the other hand, remains strong resistance and will likely offer a great short opportunity as long as the lows remain unswept. Unless we get a confirmed breakout in either direction, these should be your best trade opportunities.

$BTC So far these two fractals look almost identical. The only thing that is noticeably different is the timespan in which this larger correction took place. Back in 2023, price established a higher high around $25k and then proceeded to dump roughly 22% over the next 22 days. This time, we’ve so far seen a pullback of roughly 12% from the local top within 40 days. Considering that cycles continue to evolve and drawdowns generally become less severe as the market matures, I wouldn’t expect another correction this deep. Instead, what I think is most likely is a short deviation below the previous low around $75k, followed by a strong impulse to the upside.