I have to concur with those calling for BTC, fundamentals notwithstanding, to retest the order block formed by the wick down on 1/13.
Is this worth a short??? We are talking about a 5% drop?
I myself am inclined to eschew shorts in an oversold environment. And BTC has been fickle as #eff so far in 2025.
The best play for those who want to trade the move is to wait for confirmation of a bottom in the lower 90's and long what might well result in a short squeeze.
Thought?
- The 100d SMA, price action has closed beneath that.
- Anchor a VWAP to the 12/17 HH, price action has closed beneath that. (The order block in question is 2 standard deviations south.)
- Anchor a volume profile to the 12/17 HH, price action has closed beneath the POC, though it has broken back above repeatedly.
- Momentum has stalled, though BTC remains oversold--and both volume and money flow are weak.
Is this worth a short??? We are talking about a 5% drop?
I myself am inclined to eschew shorts in an oversold environment. And BTC has been fickle as #eff so far in 2025.
The best play for those who want to trade the move is to wait for confirmation of a bottom in the lower 90's and long what might well result in a short squeeze.
Thought?
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