$BTC

📊 New Day, New Data

New weekly highs, but supply and demand on both sides... Let's see what could be next 👇

Price:
Market structure remains beautifully bullish, with levels being respected well. Price is now approaching the first major resistance zone.

We created valid supply during the Asia session, but there are weak highs and a main POI sitting above. This could easily serve as an inducement, where many short stops are stacked around the daily high.

Time (weekly):
✅1,1% chance to take out the weekly low
⚠️ 64% chance to form a new high, if the low holds
➡️ Bias: bullish

Time (daily):
⚠️37% chance to take out the daily high
❌ 99% chance to form a new low, if the high holds
➡️ Bias: neutral

Distance (weekly):
⚠️ 31% chance to take out the weekly low
❌ 98% chance for more displacement
➡️ Bias: slight bull

Distance (daily):
⚠️32% chance to take out the daily high
❌99% chance for more displacement
⚠️92% of daily highs have a bigger wick
➡️ Bias: bullish

Plan:
Technically, the Asia supply looks solid, but data suggests it’s unlikely to hold. That leaves two possible scenarios:

1️⃣ Up only from here, leaving most traders behind.
2️⃣ Rejection at supply, then a deep retrace into the cluster of demand demand lower.

Both are scenarios the majority is probably not positioned for, which makes them even more likely to play out.

Remember:
"Most entertaining outcome is most likely " - Elon Musk