BTC - Long entries
2024-11-28

As I mentioned earlier, current PA is very similar to the 74k ath frontrun we had a while back

- frontran 100k
- local breakdown (red line)
- come back to take bad highs in a quick sweep
- fast move down, grinding into previous value

right now we are tapping the imbalance of that fast move down
last time we did something similar to the orange squiggle: retrace the imbalance fill, then consolidate, trap some shorts and move up

also possible is that we find buyers at today's point of control, see green squiggle. we can long into a ltf structure where we see twap buyers take back control (ltf lows being protected, grind upwards, ..)

I think if we start losing 88k we're looking to fill the next imbalance. however, entering shorts there can be really tricky; keep in mind that breakdown shorters have barely been rewarded in this current market, unless it was actually at top ranges