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BTC swept $110,600. Mentioned this as the ideal scenario over a week ago.
Now it's a matter of whether price stays above that level or not. If it fails on the 1h, 4h, etc., we have a confirmed fakeout that could send Bitcoin back to $103k, potentially even the $98k range lows.
Volume equals conviction, so higher time frames carry more weight. A 1h close below would be a start, but a 4h close would be more convincing, and an 8h close would be more convincing than a 4h close, etc.
If BTC manages to hold above $110,600, we could see a quick push to ATHs. However, I would not be a buyer, given the likelihood of any push above these highs becoming a failed breakout.
Correction: $110,400 to be safe. Support for now.