Quick market update: BTC continues to remain in this condition, where we keep chopping in this range.
I'm expecting more chop, but areas of interest would be to build short positions at $79.5k and at any price around any LTF uptrend retest until I'm satisfied with the size.
Why shorts? Simply because RR is good there; we've at least had 3 attempts trying to go over 80k and all failed due to lack of volume in the books. So, before we know for sure what's gonna happen, shorting does seem good, along with the fact that there are lots of resting orders worth a couple of 100ms sitting as limits, not letting BTC cross that area.
For invalidations, it's simple
1) BTC crosses 80k with volume and strong confidence to stay above there; if it can't stay there, just another reason to short, but if it does, INVALIDATION
2) If BTC chops endlessly and all momentum resets here itself without going much lower
For profit zones
1) I'm looking at LTF order blocks present at 70-74k (large range coz idk man) and 69-67k
2) 1W 200EMA = 69.5k
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Been taking a few bad trades for the last 1-2 days, gonna reset and come back.
Alot has been fueled by FOMOing into bad trades, even tho my intuition is on point. Just need to step back and zoom out.
Will journal my trades out and get back
