Most people saw the wick to $80K and called it bullish momentum. I looked at the same candle and saw something closer to an exit door.
Neutral CPI data doesn't usually produce a spike like that. What it can produce is a crowd chasing green candles into a level where someone bigger was already positioned to sell. That's not FOMO working for you, that's FOMO working as cover.
$BTC has since dropped back to $77,300. And the calendar isn't helping the bulls make their case. FOMC delivers its decision September 16, BOJ follows within days, and all of it lands right before a Friday to Monday stretch where liquidity usually disappears first and price moves second.
$76,700 is the level actually worth watching. Lose it on a weekly close and $69,000 stops being a fear headline and starts being math. Hold it, and the whole $80K wick was just theater.
ETH's slide to $2,527 is telling a quieter version of the same story.
If that wick gets retested and fails again, where does the next liquidity pocket pull price to $69K, or lower?
$ETH
Neutral CPI data doesn't usually produce a spike like that. What it can produce is a crowd chasing green candles into a level where someone bigger was already positioned to sell. That's not FOMO working for you, that's FOMO working as cover.
$BTC has since dropped back to $77,300. And the calendar isn't helping the bulls make their case. FOMC delivers its decision September 16, BOJ follows within days, and all of it lands right before a Friday to Monday stretch where liquidity usually disappears first and price moves second.
$76,700 is the level actually worth watching. Lose it on a weekly close and $69,000 stops being a fear headline and starts being math. Hold it, and the whole $80K wick was just theater.
ETH's slide to $2,527 is telling a quieter version of the same story.
If that wick gets retested and fails again, where does the next liquidity pocket pull price to $69K, or lower?
$ETH