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The Time Lord gave a detailed breakdown of BTC this afternoon. I digested what he said and I’ll tell you about it.
Right now, BTC is trading in the 63,700–64,100 range. He said that at the 1-hour level, there’s clear “stopping behavior” at this spot—huge volume but the price doesn’t drop, which means there are people below willing to take it. Since the bounce up from 58,000, the buyers have been building positions, but it’s not chase-buying high—they’re waiting to enter only when price falls to the lower edge of the range.
The key line: the sign that this bounce is over is a break below 63,700–64,100. Don’t short it easily while the range hasn’t been broken.
He also reminded that for anyone holding short positions, don’t treat floating profit as realized profit—the purpose of a short is to build more long positions in the future. It sounds a bit roundabout, but the meaning is that in this phase the main direction is still slightly bullish. The signal for truly going all-in on longs depends on waiting for the Nasdaq to complete its structural pullback.
On the time dimension, he’s looking at mid-August. This week is the Fed’s super week—first, we’ll see which side the market chooses within the range.