That’s pretty much all you need to know 𝗶𝗻 𝗰𝗮𝘀𝗲 We print HTF closures below the 60K mark.
Given this possibility, we will fill the first weekly imbalance and possibly the second one.
In my opinion, these two areas will most likely provide the last buying opportunity before the next (and final) HTF move, thus marking a reversal.
Some additional notes:
• For the bullish scenario:
Funding is currently negative | Backwardation has started to climb again | Open interest completely reset
• For the bearish scenario:
We have 4 tests of the demand zone.
Additional tests may draw attention from buyers.