bitcoin:native rejects the range-high after sweeping the previous monthly high. Sweeping the 81.5K PMH triggers a lot of buy-side liquidity and induces buyers. It's also the local range-high + markets reacted bearish on the stronger than expected labor market. A normal reaction woud be a healthy pullback to take out sell-side liquidity that entered the market due to this pump. Bitcoin fell back into the value area of the range, and it tries to hold the 50% level I highlighted yesterday. But as I stated, the longs are low probable now due to this recent developments in price and market conditions. Momentum trades from 50% levels work if the market stays trending intraday, so not as it is now. For now I'm approaching it as a range again, so shorts are possible after the trigger at the 80.7K region. For longs, my high-probability POI's lay at the range-low/VAL around 76K, and below this range. If we test the range-low region again I'm executing after triggers only, we already tested it so we could easily wick below. Due to the market regime and liquidity built below, I actually like the scenario of a flash-wick. This would wipe out a lot of buyers and fuel a next potential strong leg up.(Lennaert Snyder)