You can't ignore obvious points on a chart.

There is still untouched supply at 7.8k.

6950 was range high and it has flipped.

Ive been using the 50 MA as a gauge and its been hit a lot w a pierce through now.

Not a bad setup.

Invalidation here is easy.

See those untouched bubbles.

Some sitting around 7400.

That could trigger a nice squeeze up into that 7.8k supply zone.

Would imagine breakout longs pile in on that.

That would print a true bearish 61.8 retrace.

Those were lovely in '18.

Run to 8k 200 MA is doable.

Here is also the thing that really sticks out to me.

At 10.5k there were two fake-outs or deviations back up after staring to trend down.

This time we now have three.

I still view the accumulation zone as a big factor.

There wasn't one.

Weekly is still bearish MS.

Mini range breakout and retest of range high.

Low time frame s/r flip.

Not ideal.

Ideal.

Look at the range high of 6950 and how price reclaimed it.

Now look at the MS.

Price has made higher lows and higher highs.

Liq levels are up to 7400.

Do you think price is going to stop before that given all the information on the chart with untouched supply at 7.8k?

Here is an illustration of what I'm talking about.

Don't be quick to fade bullish MS.

Good way to get run over.

50 MA more than reclaimed as well.

The delta and funding aren't saying squeeze but I'm more interested in what ETH is doing as it sparked this rally.

You can see on the delta and l/s here.

I continue to watch ETH Finex longs as a signal for exhaustion.

ETH = bullish MS

A bit of a dip but still holding a higher low for now.

Looks like some shorts jumped in anticipated a breakdown.

Delta flipping red.

Block of shorts at 7130 zone.

Higher high soon.

50 MA has been my gauge.

61.8 is a true BTC reversal point.

Always takes longer than most expect.

Cutting this here.

Lost a key level.

We dipped lower than my liking.

Narrowly escaped being stopped out.

The clues were there.

Now below the range high.

Another s/r breakdown of an area that was reclaimed.

6600 has been hit too many times.