BTC Bias update 🧪🧪🧪
(THE BTC update I gave our VIPs before the break-out)
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With BTC - we are in that boring range again. with liquidities grabbed from the bottom at 18700 and from the top at 19700.
A 1k move with 2 stop hunts on liquidities.
To the upside we still have imbalances at 22.1k
To the downside we still have a liquidity to grab at 17500 - and small imbalances to the bottom which don't make much of a difference.
So now we are in between imbalances and liquidities basically.
Which one will they move to first ?
Now momentum suggests we are going to the imbalances first, as we broke-out of a channel on the 4h to the upside. But we all know that break-outs in a bear-markets, and we have a positioning to FOMC next week.
The only bullish thing about this break-out is BTC dominance, and why I betted on it early, since the bottom on 18700. **I usually only trust break-outs when BTC dominance is in a BTC dominant area and not a ALT dominant area**. Note this down as it's very important.
What we clearly need to see is a break-out from the 19500 with a bulllish close above it, and we will talk again next time when we hit 19800-20050
As of now we are positioned in the right side of the market due to momentum.This post is based on this twitter thread.