BTC - Mapping out a Liquidity Sweep
It’s of my opinion that Bitcoin has a lot of interest in recollecting this long position liquidity.
Per my previous posts we have some trendlines to support these zones being hit.
Likely? Who am I to have an opinion on that. The facts are that there is a mass amount of liquidity here and technical analysis patterns that support price reaching those zones.
The way this chart works is the multiple bottom locations of the first liquidity sweep wave correspond to a retrace location above in the same colour.
Ultimately I believe there is an interest in sweeping those ultra lows at 7-10k, albeit very briefly.
We know it will be fast and brief because:
1) Long stop losses are in the chart (leveraged sell orders)
2) Shorts will be opened on the way down creating leveraged buy orders to take price quickly back up
3) People will panic sell to make the drop even faster and respectively panic buy to make the return to upper zones even faster.
God speed and keep and open mind
Per my previous posts we have some trendlines to support these zones being hit.
Likely? Who am I to have an opinion on that. The facts are that there is a mass amount of liquidity here and technical analysis patterns that support price reaching those zones.
The way this chart works is the multiple bottom locations of the first liquidity sweep wave correspond to a retrace location above in the same colour.
Ultimately I believe there is an interest in sweeping those ultra lows at 7-10k, albeit very briefly.
We know it will be fast and brief because:
1) Long stop losses are in the chart (leveraged sell orders)
2) Shorts will be opened on the way down creating leveraged buy orders to take price quickly back up
3) People will panic sell to make the drop even faster and respectively panic buy to make the return to upper zones even faster.
God speed and keep and open mind
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