BTC update 7/4
Sentiment bullish across 1hr/4hr/D and nice demand cluster support for D/4hr 56.5k-58.5k.
Flow on daily negative but has turned incrementally positive over last few hours as you can see on 4hr.
4hr DTL tightening suggests a watch for a breakout or breakdown here. Any moves prior to NFP likely short term shakeouts on both sides so scalp only playbook from yesterday still in effect:
βLong: Any dips back toward 1hr/4hr/D support/bottom of DTL worth a scalp longβ
Not much has changed from yesterday as far as swing idea here long either:
βMean Reversion long (w hedge) with a PT of the top of the range at 72k and a stop of 56kish. Nice almost 3:1 but keep in mind the risk is elevated with NFP catalyst on Friday hence the hedge. Alternatively a swing starter and decide whether to add/cut after reaction.β
Currently Iβve got long starter with a hedge so Iβm open to adding after reaction if my bull thesis plays out but if it doesnβt and we do break bearish Iβll sell long side and flip the hedge to an outright short.
Flow on daily negative but has turned incrementally positive over last few hours as you can see on 4hr.
4hr DTL tightening suggests a watch for a breakout or breakdown here. Any moves prior to NFP likely short term shakeouts on both sides so scalp only playbook from yesterday still in effect:
βLong: Any dips back toward 1hr/4hr/D support/bottom of DTL worth a scalp longβ
Not much has changed from yesterday as far as swing idea here long either:
βMean Reversion long (w hedge) with a PT of the top of the range at 72k and a stop of 56kish. Nice almost 3:1 but keep in mind the risk is elevated with NFP catalyst on Friday hence the hedge. Alternatively a swing starter and decide whether to add/cut after reaction.β
Currently Iβve got long starter with a hedge so Iβm open to adding after reaction if my bull thesis plays out but if it doesnβt and we do break bearish Iβll sell long side and flip the hedge to an outright short.
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