$BTC - The price has formed a deviation below the 0.786 Fibonacci POI at $65.9K, which I highlighted in some of my prior PAT updates.
That said, the price is once again struggling to break back above and reclaim the lost high-timeframe support range marked in purple, which has been a strong reversal spot over the last couple of months. Because of this, I haven’t scaled out of my hedges yet, as I’m waiting for clear confirmation of a breakout above the lost high-timeframe support range with a daily close. Until then, I remain conservative on the low timeframes and hedged, and in case of another rejection, like the ones we’ve seen over the last couple of weeks, I’ll be ready.
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$BTC - The price has formed a deviation below the 0.786 Fibonacci POI at $65.9K, which I highlighted in some of my prior PAT updates.
That said, the price is once again struggling to break back above and reclaim the lost high-timeframe support range marked in purple, which has been a strong reversal spot over the last couple of months.
Because of this, I haven’t scaled out of my hedges yet, as I’m waiting for clear confirmation of a breakout above the lost high-timeframe support range with a daily close.
Until then, I remain conservative on the low timeframes and hedged, and in case of another rejection, like the ones we’ve seen over the last couple of weeks, I’ll be ready.