BTC followed the plan going for the third liquidity tap hitting the 1.454 aligned with May highs and producing a nice swing to the upside.
It's also pretty much curious to notice that during the dump, psychologically speaking, the majority was "paralyzed" by Eric Trump's word announcing to buy the dip and therefore thinking we would went lower, hence the reason why I posted this essentially reverse psychology.
Now coming back to the price action of BTC, we're near a key area (117K) and HTF supply at 118.400$, so some careful should be paid.
Our line in the sand is represented by the 119.836$ high, the one that has originated the bearish impulse, thus it becomes crucial to close above it (ideally with a weekly closure) in order to re-shift the structure and invalidate lower levels.
Personally, a scenario that I would truly love to see would be a final dump into the 1.618/-0.786 taking out weekend lows, instilling more fear but, most importantly, providing fantastic entries on several HTF breakers on altcoins.
Let's see what we can get, now it's essentially waiting time since you don't have real triggers if not on MTF.
@ThisMakesNoSe It’s not a must though.
I think it’s more about being able to optimize strategies at the moment.
Important:
The probability that all metrics align perfectly, guaranteeing entries with a high success rate, is incredibly rare, almost mythical and something we might call the “Cassiopeia Conjunction” of trading.
In a macro context dominated by a clear HTF uptrend across most altcoins, the real secret isn’t chasing every single signal but knowing how to contextualize distinguishing between a “discount” and an "extreme discount".
In this framework, setups divide into good and optimal.
Good setups form frequently and have an acceptable probability of success while optimal setups are those few cases where the market aligns almost perfectly, with multiple confirmations, but paying the price of patience and the ability to wait without succumbing to the anxiety of immediate entry or even waiting for a moment that might not even come.
Psychologically, learning not to be greedy is crucial.
You don't know if all metrics will align, there are no certainties in trading.
One common trap is waiting for “just another 10% down” when the asset is already 30% off its highs, an endless chase that can mean missing the opportunity altogether.
The market rarely offers perfect entries repeatedly, and chasing deeper discounts can lead to paralysis or worse, complete missed moves.
The real competitive edge lies in adopting a scaled entry approach on the spot, spreading entries to capture different phases of a move, thus avoiding putting all capital at risk in a single moment and allowing the market to prove its direction.
For longs you would like to wait for optimal, if provided.
After all, the market owes us nothing, so make sure to always contextualize discount/macro discount | premium/extreme premium for your decisions.
16.41K
195
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.