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Made an early entry into $BTC and $ETH .
The previous long position on the “big pancake” at 75k was closed at 79k. After that, I tried to short because the previous week had persistent severe divergence between volume and price. On May 3rd, all indicators were showing divergence, but the drop came without volume, so the shorts were closed at breakeven to exit.
Just checked the order book:
1、On the 1-hour timeframe, last night when $BTC was around 80,500, it was continuously hammered with sell pressure. Huge volume was present, but price still couldn’t go lower. This shows that the buy support here is very strong. From a Wyckoff perspective, it’s that line: “effort without result.”
2、On the daily timeframe, this area started increasing volume again from today, and that’s very important. If $BTC is going to move up, the best way is to go through a platform (range) structure, digesting the divergence through consolidation via platform-style range trading. This kind of path only appears during strong uptrends, where conventional divergence indicators like RSI and MACD will fail. You can refer to the circle in May 2025.
But the structure had not been played out before; today the structure is more obvious. The platform range consolidation digests the divergence, and then volume ramps up again at the end.
If $BTC can break above 84k, first look at 95k; if $ETH breaks 2,650, then look around 3,200.
Since the structure has emerged, it’s better to be bold in May than to chase highs later.
————For reference.