TicTok-Bitcoin Buys are Exhausting & There is only one way to go

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TicTok-Bitcoin Buys are Exhausting & There is only one way to goBitcoin / US DollarCOINBASE:BTCUSDMoNi_MoNBitcoin is one of those markets where people love to say “the bottom is in” or “the bull run is back” way too early. For me, I don’t look at it that simply. I trade structure, higher time frames and time frame synchronization. When I look at Bitcoin on the 9 Month chart, I see multiple areas where price expanded aggressively and never came back for a proper retest. Around $734 there was no real retest. Around the $2,975 to $3,858 area, again, price expanded and never really came back to properly retest that structure. Now we have higher areas around $38,501 and $57,717 that I’m still watching because they represent unfinished higher time frame structure to me. That does NOT mean Bitcoin has to come back and touch every single level. Markets don’t owe anybody a perfect retest. But I also don’t ignore higher time frame structure just because price is currently trading higher. That is the difference. A lot of traders look at one candle going up and immediately call the market bullish. I’m looking at the entire move and asking what was completed, what was retested, what was left unfinished, where the previous highs are, where the lows were established, and whether the structure has actually confirmed the next higher high. Bitcoin Dominance is also showing something interesting. The higher time frame structure is still bullish from the completed low, but momentum appears to be slowing and buying pressure looks to be declining as BTC.D approaches major previous high structure. Again, slowing momentum does not automatically mean bearish reversal. Candle behavior gives me the warning. MARKET STRUCTURE gives me the verdict. That’s why I’m not rushing to call anything a confirmed bottom or a new bull run yet. I want to see the higher time frame candles complete, the previous highs retested, and the structure confirm what the market is actually trying to do. The higher time frame remembers what the lower time frame forgets.