Unfortunately I was unable to post this as I entered/as it was happening, as I was working on the 1 minute chart, position building as the move developed and had to focus on the chart, but I caught a low time frame reversion scalp based in an old system and discretionary performance (this comes with experience, and should NOT be attempted by beginners) given the magnitude of the down move these last 4 weeks, after hitting a significant key level, I initially entered too early and lost 1R, but then built this position slowly (entered a total of 6 times) and exited with a total 9R profit. I did not screenshot my position card sadly, so I have to share my position tool from tradingview according to my last entry and realised P&L screenshot (shows time for proof of work) I was distracted by my amazing partner so fumbled the position closing screenshot 😅 Have redacted the profit value as my portfolio size would be revealed by a simple calculation of what 1R (1%) would equally when multiplied by 100. This takes this week's total profit to 17.8R.

We dumped straight to my target at 2700, resulting in 3.8R win, putting me up 9.8 for the week. Happy to leave things here and test new systems later. Profits converted into BTC as price is low, increasing the stack gradually.

After my analysis I've found my setup on ETH again, to the short side. As I've said, take the entries that present, you don't know what will happen. Trust the system. Trust the process. Entry @ 2781 SL @ 2815 Risk 1R Here we go again.

ETH is great to trade but has no real use case similar to BTC (in my opinion) not shitting on ETH, just wondering where would the buyers come from? So, it has fallen alongside BTC but it is overall in a very High Time Frame range. So, it can keep falling, but it has left multiple untapped structure levels (first image, daily chart) so a squeeze is possible, and likely, I believe. The correlation with bitcoin should end at some point, will be checking charts later and posting what I figure then. For now, range bound, bottom forming, and no real bias (second image, hourly chart).

Been way way off on my analysis this week, which is fine, we're still positive in terms of profit, so being right isn't what counts - being consistent is. That said, BTC has fallen faster and harder than I could have thought, we're back in the hardly tested area of the 80s, only priced during Feb-April of this year, meaning the market won't really know what to do with these levels. So, 2 paths I see, next week sees consolidation (orange path) or we form a structure level today that can be broken next week for a rally higher. I'd lean towards consolidation, the 80k area hasn't had much historical bidding so the market will be uncertain, choppy, and bottoms take time to form.