$BTC

📊 New Day, New Data

We printed a fresh all-time high, but failed to stay above it. Still, I don’t believe the weekly high is in yet.

Let’s break it down 👇

Price:
Price action remains clean, with supply and demand zones being respected. After tapping a new ATH, Bitcoin rejected and left behind supply.

I expect a retest of that supply before continuing down toward the demand zone around 120K.

If demand is tested first, without retesting supply, price could push even lower in the short term.

Time (weekly):
✅ 7% chance to take out the low
❌ 79% chance to take out the high, if the low holds
➡️ Bias: bullish

Time (daily):
⚠️ 36% chance to take out the high
❌ 99% chance to form a new low, if the high holds
➡️ Bias: neutral

Distance (weekly):
✅ 24% chance to take out the low
❌ 93% chance for more displacement
➡️Bias: bullish

Distance (daily):
✅ 21% chance to take out the high
❌ 78% chance for more displacement
➡️ Bias: bearish

Plan:
My monthly and weekly bias remain bullish, so I expect higher prices overall. But in the short term, the data suggests a dump is likely here.

For today, I’ll be looking for scalp shorts from the mapped supply zone.

From there, I’ll flip back to longs, targeting both the monthly and weekly highs.