JS

$btc shorts Price should lead to new lows, added a local short Alright, nice journey so far on our shorts we caught from the top at 82.3k. Before we get into the post, quick summary of my directional bias. As you know, I am a trader, no a permabear or perma bull. And to stay successful (in reality and in live time, not just on paper or in hindsight like most of X), it requires monitoring all timeframes, so see below of my current stance: Weekly: Bullish (Low is in at 60k) Daily: Bearish (Aiming for 75k, with shorts from 82.3k) Hourly: Bearish (Added local exposure, looking to ride out the trend to the end). Quite a lot of targets have been hit and per consequence, we have taken a lot of TP's as we hit targets, leaving us the remainder for final targets, still looking for new lows. And now that we finally flipped the W POI, I have no interest attempting any local and internal longs anymore trying to catch 1000-1200 points bounces as we discussed before, and instead, extend the targets of the shorts until the very end of the trend and our long and imo not gone target of 75k. More-over, given that our current short is TP'd a fair chunk and given the lower two timeframe biases both being bearish, I'm adding some local exposure on top here. We tried to capture a long towards a lower high once, that worked out. We tried it a second time, that failed, whilst the short just kept paying. So now that we are indeed below the W POI and all lower high retests are done, and now that we also bounced a bit off our last TP and the local high leverage weekend volume is getting compromised, that's a green flag for me to expect lower. Some confirmation to the sentiment and order flow, which is confirmed to be slightly frothy throughout the weekend and mostly positioned long. Although we're not quite there yet and did have an unusual large amount of long liquidations for a weekend with some CVD aggression of large positions picking them up, if we extend that local forth further, I'm getting interested in adding to the short position. But because the market still wants long, the market makers likely punish them first so it should bounce us above the weekly POI before new lows and my suspicions are those liquidated positions are just going to be recaptured again. So in short, new lows is what I am looking for, not getting excited for longs here, just staying on the short side now for as long as possible in accordance with bias, holding current ones, adding exposure and keeping it aggressive until the trend ends, is the most logical move here going into the next week.

Another triple tap on LTF at $CRV local highs, should have seen this one coming but missed it in the moment. It should be clear to you now that these patterns tend to repeat again and again and again on various timeframes and being able to identify their formation can be very useful. In the same way that we are finding support in our bullish triple tap in BLUE, the bearish triple tap in RED above needs to be overcome for continued upside. On LTF- trapped between key support and resistance now, which one gives way is probs determined by $BTC and it's next move tbh.

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