Most traders read a sweep of the lows as the start of another collapse, yet the nearby downside liquidity on $BTC already looks cleared.
That is how a lot of people give the bounce away. The selloff feels like 2022 all over again, so you dump into the flush, then sit there hoping for one more low while price starts working back through the range.
After the recent selloff, price took out the unswept lows and swept most of the external downside liquidity. What is building now sits overhead: fresh liquidity around the previous high near $84.4k, and more at the range highs around $87k. In past cycles, once the stops underneath a range were gone and price was still boxed in, the next move often went hunting the clusters above rather than inventing new lows.
So the short-term map I am using is simple. Downside fuel nearby is mostly spent, $BTC is still range bound, and $84.4k is the first upside target that actually has a reason to get visited. Not a new all-time-high thesis. Just the next pocket of liquidity.
Where do you think this goes from here?
#Bitcoin #Crypto #PriceAction
That is how a lot of people give the bounce away. The selloff feels like 2022 all over again, so you dump into the flush, then sit there hoping for one more low while price starts working back through the range.
After the recent selloff, price took out the unswept lows and swept most of the external downside liquidity. What is building now sits overhead: fresh liquidity around the previous high near $84.4k, and more at the range highs around $87k. In past cycles, once the stops underneath a range were gone and price was still boxed in, the next move often went hunting the clusters above rather than inventing new lows.
So the short-term map I am using is simple. Downside fuel nearby is mostly spent, $BTC is still range bound, and $84.4k is the first upside target that actually has a reason to get visited. Not a new all-time-high thesis. Just the next pocket of liquidity.
Where do you think this goes from here?
#Bitcoin #Crypto #PriceAction