We have BTC setting up a nice weekly consolidation box, with candle closes consistently holding above the previous weekly ATH resistance. Multiple Doji closes indicate consolidation and compression. At the bottom of the box, we’ve seen strong reversals with high volume. The 4H chart is consistently defending the 200 EMA, supporting the idea that the daily trend remains strong — although direction is currently unclear.
Is distribution happening? It’s not easy to short just yet. We might still see a false breakout, position filling, and then a return to the box range. I’d be interested in a swing short if that happens — especially if the weekly candle closes with high volume and signals a reversal, indicating a potential bearish shift on the daily chart. Let’s keep in mind that June is historically weak, especially during the last two weeks.
On the long side, I’ll only be looking for entries after a daily break of structure (BOS).
Does not need to goes to the highs, we could drop below 100K if we lose box range low with a MSB.
Interesting days ahead — patience is key, as we currently don’t have many high-probability setups.
Is distribution happening? It’s not easy to short just yet. We might still see a false breakout, position filling, and then a return to the box range. I’d be interested in a swing short if that happens — especially if the weekly candle closes with high volume and signals a reversal, indicating a potential bearish shift on the daily chart. Let’s keep in mind that June is historically weak, especially during the last two weeks.
On the long side, I’ll only be looking for entries after a daily break of structure (BOS).
Does not need to goes to the highs, we could drop below 100K if we lose box range low with a MSB.
Interesting days ahead — patience is key, as we currently don’t have many high-probability setups.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.