$BTC looking toppy here.
Order book depth across spot venues is sitting at -0.321 and still getting more negative. On top of that, there’s a thick wall of asks stacked around the 80k level.
After a vertical run like the one we just had, when you see heavy sell liquidity piling up at the highs + depth delta diving deeper, it’s usually a sign of distribution.
Short-term path of least resistance is sideways or lower until those 80k asks get absorbed or depth starts turning less negative.
Order book depth across spot venues is sitting at -0.321 and still getting more negative. On top of that, there’s a thick wall of asks stacked around the 80k level.
After a vertical run like the one we just had, when you see heavy sell liquidity piling up at the highs + depth delta diving deeper, it’s usually a sign of distribution.
Short-term path of least resistance is sideways or lower until those 80k asks get absorbed or depth starts turning less negative.