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$BTC well we have a BIG decision to make. This move has mainly been lead by Bitcoin itself, dominance pushing towards 61% for the first time since Nov 25.
We are finally at our weekly imbalance, which also aligns with February high, which also aligns with our low volume area, which also aligns with our swing fib golden pocket.
Acceptance above here and we push to $84k - $86k, previous range support, 200D moving average, another imbalance and just below yearly open.
Weekly closes above this key 86k level and I change my tune, this is a macro low and won't be revisited for a while. Anything but acceptance and confirmation above those key levels (with daily / weekly closes) and this is easily a bearish bounce, grabbing liquidity higher before continuing back to swing lows / possibly 50k region.
Trading is all about being adaptable, there's no definitive answer, no one knows 100% what's going to happen, you can have bias, you have have probabilities of price playing out certain ways, but that's exactly it. This move up plays into both bullish and bearish scenarios.
Monthly and quarterly stochastic, still coming down aggressively. Moving averages on weekly (12 and 25) still coming down aggressively - we can easily spike into this or even have a distribution above them and than reject back to new lows (study previous cycles).
Complacency bounces are normal in a bear market, we won't know one way or another until we have more price action in front of us.
This would be a fascinating macro low if it was to hold, we have so much built up liquidity sitting under so many of those higher lows. Time will tell.