everyone thinks this recent green candle means we are instantly mooning to new highs, but actually we might just be walking straight into a brutal liquidity trap.
getting chopped up chasing relief bounces only to watch your margin get vaporized when price rolls over is the easiest way to bleed out. ngl, ser, watching degens fomo into green daily wicks without looking at the higher timeframe structure is painful.
look at the setup on $BTC right now as a classic case study in market exhaustion. price broke down from a clean rising wedge on the 1D, and this move up is shaping up to be a textbook retest of broken support turned resistance before the real flush begins.
the daily sma200 sits right inside the $73,027 to $71,408 support pocket and acts like a massive magnet for price action. if $USDT dominance ticks up and the retest fails, that demand block is where the liquidity vacuum wants to pull us for a proper reset.
where do you think this goes from here if that resistance rejects?
#Bitcoin #CryptoTrading #PriceAction
getting chopped up chasing relief bounces only to watch your margin get vaporized when price rolls over is the easiest way to bleed out. ngl, ser, watching degens fomo into green daily wicks without looking at the higher timeframe structure is painful.
look at the setup on $BTC right now as a classic case study in market exhaustion. price broke down from a clean rising wedge on the 1D, and this move up is shaping up to be a textbook retest of broken support turned resistance before the real flush begins.
the daily sma200 sits right inside the $73,027 to $71,408 support pocket and acts like a massive magnet for price action. if $USDT dominance ticks up and the retest fails, that demand block is where the liquidity vacuum wants to pull us for a proper reset.
where do you think this goes from here if that resistance rejects?
#Bitcoin #CryptoTrading #PriceAction