BTCUSD Feeling Heavy and Poised to Attack Sellside
Background: Bitcoin is looking on the heavy side after running up from Jan 2023 lows only to have topped at 25200 in middle of February.
Thesis: I am anticipating an overall move lower attacking the nearest daily sellside liquidity.
Bias: Bearish
Reasoning: 25200 buyside liquidity was ran in middle of Feb enticing retail longs and breakout traders. The initial move lower between Feb 21 and Feb 24 broke market structure (MSS) on the daily which has resulted in a move toward 22190 price level.
Targets: 21366 and 20380.
Timeframe: Over the course of the Month.
Thesis: I am anticipating an overall move lower attacking the nearest daily sellside liquidity.
Bias: Bearish
Reasoning: 25200 buyside liquidity was ran in middle of Feb enticing retail longs and breakout traders. The initial move lower between Feb 21 and Feb 24 broke market structure (MSS) on the daily which has resulted in a move toward 22190 price level.
Targets: 21366 and 20380.
Timeframe: Over the course of the Month.
Trade closed: target reached:
Trade idea complete. All targets reached much sooner than anticipated.