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$BTC Update: After yesterdays move price is compressing here which is to be expected before the next move Currently market is pretty neutral in terms of positioning, longs opening targeting higher & shorts opening here as hedges The more liquidity that gets attracted here =

$BTC Update: Price is now testing HTF resistance & supply ($108K - $110K) Surprisingly not even a frothy market despite price trading at $108K

Gm to bulls & yappers Believe in something

I post frequent flow & market updates in the trading talk channel in cantina you're missing out if you aren't in the cantina discord.gg/cantina PS $107K key price for today's direction

$BTC Market consolidating here just under HTF supply & resistance Two notable points: - asks have moved closer to price - orderbooks remain skew to asks when asks move closer to price often it's to front run HTF levels orderbook depth & skew does influence risk taking as well

Lock in Yap, Trade, Build 🤝

$BTC Update: Market still struggling to break through top side liquidity & $108K resistance Both Spot & Perps are quoting $108K as a very important level for the market to auction & accept above - Market Supply - Spot CVDs declining with price - Hedges opening around $108K Key

$BTC Update: Early week predatory algo running price up here - spot taker bid (market buying) - perp taker bid (longs opening) games are being played here thus far but keeping a close eye on flow

Today's algo defined below👇 algo is back to bidding as well if you want more alpha drops like this join The Crypto Cantina & browse the trading talk channel discord.gg/cantina

$BTC Casual $12M Short liquidated by this algo

$BTC Update: Expectedly market retraced the bulk of the move GG

$BTC Update: Starting to think this algo is probably from a notable desk or firm Part of yesterdays move higher into $108K + was driven by acquisition of BTC (companies acquiring BTC via desks) since these desks often know the incoming flow or it was leaked makes it quite easy

Gm Another BTC ATH week 🔥 who's in the trenches this weekend & next week? It's game time 🤝

What a week this has already been 🔥 avg sector performance 8-10% with memes outperforming on upside like usual as well runners of each sector are definitely being chased (most notable probably $ETH) Significant gains already capitalized in large cap alts Exceptional

Deeper market snapshot Notably binance volumes have been sustaining above 100b ~ critical for lasting uptrends ETH volumes have flipped BTC's volume which is pretty important as well watch "others" Lots of interest in alts currently Global OI still largely in BTC / Majors but

$BTC It appears since around daily open there's a running short position which continues to twap into price & bid liquidity has enabled this to occur without major downside volatility yet Reasoning seems to be presumption of fresh supply coming into the market via Galaxy Digital

$BTC Furthermore this price decline has been led by market selling on spot exchanges hence why toxic flow is promoted in this environment - the twap shorting into price change in this flow will come from two things - absorption of market selling - change from net short

I see the current state of the market as cautionary more than panic panic often has volume & considerable volatility which we dont have currently Time to watch for sure though

$BTC Potential absorption around $115K, fairly large spot buyers actively buying into sell pressure Keep an eye on that short positioning especially if price trades around $117K