BTC : SHALL WE TRUST THE THURSDAY CANDLE?

Hello everybody, points I will cover:

- we are in a high indecision area at 7700-7400
- data is mixed so I tried to find evidence somewhere else than BTC chart

as you know I liked the thursday candle as we got the TP there, anyway I didn't like the close much. After the spike at 7750, which would have been a great level to close at because above the retracement area and at levels pre-March dump. Also, if you follow me, you know that the accumulation area is 5800-7600 (linked idea). So, pity we didn't close above that level. Moreover, pretty much the whole movement happened in 1 hour and was not backed on friday, even if we saw some consolidation.

Other data is mixed, as Longs and Shorts position are rising together and the ratio between the 2 is approaching 1, which means that for each short open, there is a long. This means high uncertainty on the market.

We are literally trapped between upper boundary of a descending and ascending channel, so we have to find some evidence somewhere else.

I noticed that top 10 index for crypto ex bitcoin and excluding tether (for obious reasons) did not reach new local high as happened in BTC. Lower cap coins did but we know they tend to magnify BTC moves. This more mature coins "miss" makes me think that the spike was just a short squezze that triggered many longs located just . As I said, everything happened in 1 hour. The movement was not backed the day after (but there was also the futures expiry on friday). My view is bullish but I am more biased towards a down movement now. Will be interesting to see what happens on Monday.

I will provide another idea to show you exactly what I have in mind as levels and as channels. This was just to provide you with other data. Let me know what you think!