BTC Update: A downside break now looks almost inevitable. The important 805 level has theoretically been broken, which means the first zone in our initial long-entry strategy at 79700 has fully played out, with no continuation for the long position. The short position we later opened from 84500, on the other hand, did continue, while the long we tried again in the 808-816 area on a smaller timeframe proved weak. So the first long had at most 5000 of potential room, and the second short had 3000. These were the initial theoretical estimates. The third long has less room, so we reminded everyone to reduce position size in line with the available room. Once the market compresses into a sufficiently narrow range, it will eventually leave this swing framework. So how should we position from here??? We should still refer back to the strategy that entered at 79700 once, and use the second Needle Man level as a reference for building positions in batches. The first level has already been used once, so it can be filtered out. Our strategy generally only takes a trade the “first time” price reaches a level, provided the setup is valid.