Bitcoin has a great chance at cracking new all time highs and breaking out into price discovery this month. On July 14th, the US is considering it Crypto Week. Signing in the GENIUS bill, and more around crypto assets.
Bitcoin has held this volume shelf at around 104/105k for a while and these relative equal highs on the daily look like they can crack. I have highlighted some zones on the chart that I'd consider extremely important levels.
If we do crack these highs, I am on the side that the price action will be extremely expansive after all the work that has been done at those high volume clusters. If it fails I believe we should trade back to the high volume clusters, and if that doesn't hold, then we should trade through the thinner volume to do more business before bouncing off of the POC at around 96.5k.
The 50,150 & 200 EMAs are all signing ideal strength. Virtually all expansions in their early stages from 2023 to now contained these crosses on the Daily TF.
I am long BTC on a high timeframe. Macro narratives are strong, the asset is strong, and the downside is always in our control to be limited.
Bitcoin has held this volume shelf at around 104/105k for a while and these relative equal highs on the daily look like they can crack. I have highlighted some zones on the chart that I'd consider extremely important levels.
If we do crack these highs, I am on the side that the price action will be extremely expansive after all the work that has been done at those high volume clusters. If it fails I believe we should trade back to the high volume clusters, and if that doesn't hold, then we should trade through the thinner volume to do more business before bouncing off of the POC at around 96.5k.
The 50,150 & 200 EMAs are all signing ideal strength. Virtually all expansions in their early stages from 2023 to now contained these crosses on the Daily TF.
I am long BTC on a high timeframe. Macro narratives are strong, the asset is strong, and the downside is always in our control to be limited.
Trade active
BTC breaking ATH right now. US holds hearing on crypto & representatives put on for crypto. 
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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.