Lennaert Snyder|7月 06, 2026 07:57
BTC pushed into the final short POI.
I'm still in my swing-short from 63.2K, and willing to add if we get a clean break of ~62.5K.
Why am I still looking for shorts? Because price is simply too extended for longs according to my system.
Orderflow also shows that open-interest decreased in this impulse up, showing this pump is mainly driven by shorts closing and little spot buying.
Spot buy-pressure is also fading in this last pushes, and the CVD confirms that.
With all the info mentioned above, I'm just not convinced of a sustainable move up yet.
My short targets will be 61.5K, 60.3K, and 58.8K, with the last 2 as potential POI's for longs.
Awaiting a pullback for longs is the best RR play for me, and catching the R on that pullback seems as the only logical move here.
Let's see what Bitcoin gives us this week.(Lennaert Snyder)
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