market moves towards liquidaty

Bitcoin price action moves towards liquidaty.
5billion liq @ 16.250
15billion dollars get liq @ 17k

Bt. Moves to this prices

1) Two wicks below CMP - 16250~16350 .
2) Fair value gap - 17k~17.5k
3) monthly support 17.7k turned into resistance.
Possible to retest resistance.