Lennaert Snyder|Apr 16, 2026 07:16
BTC is testing very interesting resistance.
The dump after sweeping 76K left a huge wick on the daily timeframe, the 50% wick area is being tested as we speak.
My plan for Bitcoin is therefore pretty straight forward here.
The narrative for the day will be determined by taking out the ~$75,425 previous daily high (PDH) or not.
We know that if we take out the PDH, the probability of holding the PDL increases significantly, same for the weekly.
If we take out the PDH, I'll look for longs on the MTF and LTF. Scalp-only though.
This last pump no doubt pulled in a lot of longers, so if we keep rejecting the PDH, I'll look for shorts with the ~$73,514 PDL as target for today.
I'm already short since the 76K sweep, but I'll watch 4H closes and MTF PA for potential scale-ins if we keep rejecting as I said.
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