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$BTC
I would not get FOMO here on the LTF. As we know from statistics: Monday open pumps can not be trusted more often than not. We see that now as well:
- 82% of weekly P1s are put after the first 2 trading hours of the week
- 90% of weekly P1s (the low) have a bigger wick
- 75% P1 Flip Risk
So all in all the current weekly low is a very low probability pivot. It can hold in very bullish environments, but I would only bet on that when there are more confirmations (e.g. low % flip risk).
A move down to take out the weekly open makes a lot of sense, statistically speaking.
I remain my HTF bullish bias, but on the lower (weekly) timeframe I'm simply going to wait and let the market generate some more data.