Lennaert Snyder|Nov 03, 2026 09:58
BTC took out the 77K weekend liquidity as we anticipated yesterday.
Normally I'd already be looking for longs, but with mid-terms today/tomorrow I'm waiting.
Markets tend to chop/consolidate as big players reduce exposure and await the results.
I wouldn't be surprised if we just chop around here until tomorrow, and possibly until NFP this Friday.
Bitcoin is currently holding the 76.2K PML, for longs I'd like to sweep it so we can mitigate the SSL beneath it.
We've been repricing lower since 87K for a while now, and engineered lots of BSL to the upside.
These are the regions and times to play close attention to local shifts in structure.
Why? in the current conditions we see a slow grind on the way down, and speed when we reprice up.
The 74.9K Sep low is still a valid POI, but not necessary if we sweep and bounce back after taking 76.2K.
For shorts my first POI remains the same as shared yesterday.
But if we sweep and see big displacement to the upside, I'm focused on longs and shorts are all hedges.
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