One way to look at discount, fair value and premium is to slap a vwap on a significant swing point. As an example, placing an anchored vwap from the November 2022 bottom we see the following: BTC favours bouncing between VWAP Upper Band #1 and VWAP Upper Band #3. Anything above VWAP is considered a premium. However, *within* that premium range, we can identify discount, fair value and premium. If we continue to bounce between VWAP Upper Band #1 - #3 then technically we are at a discount *within* a HTF premium. If we lose this level, price will likely find its way to "VWAP" which is HTF Fair Value, at around 55k If we hold the current level as support, within the HTF premium range, we could be looking at 86 <-> 150k. $BTC