🔹 Market Summary
Bitcoin remains rangebound between 98K and 112K, with repeated rejections near the top of the range. Despite bullish sentiment, there’s no confirmation of a breakout yet. Trader XO emphasizes that a clean breakout must come with high volume and sustained momentum. Until then, this is still a ranging market.
🔹 Current Positioning
XO is neutral at the moment — not heavily long or short. He’s actively trading the range: shorting near resistance and looking to buy lower if price dips into support. His long-term view remains bullish, and he uses short profits to accumulate more BTC at better value.
🔸 What Matters Right Now
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Resistance: 109K–112K remains strong. Without a high-volume push through this level, any move up risks being a fakeout.
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Support: 105K, 98K, and 96K are potential buy zones if the market pulls back.
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Rejection at highs with no follow-through = likely return to mid-range or lower.
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Sustained acceptance above 112K could trigger a true breakout and a move to new highs.
📊 Trading Insights
Trader XO focuses on objective levels and market behavior, not prediction:
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He reads price action, volume, and order flow at key zones to decide whether to trade.
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Tools used: Volume Profile, Market Profile (TPO), DOM (Depth of Market), and footprint charts.
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He looks for signs like absorption of aggressive trades, imbalance, or failed breakouts to determine entries.
In his words: “If it breaks out and holds, I’ll ride it. If it fakes out and comes back in, I’ll short it. I let the market decide.”
📅 Seasonal Context
Q3 tends to be quiet and choppy, often frustrating for trend traders. XO expects more directional clarity and potential trend continuation to come in Q4 (October to December), historically Bitcoin’s strongest quarter.
