#BTC The pancake was liquidated last week due to low leverage long positions being forcefully closed and stop-losses, which is quite rare. Generally, strong liquidations occur on Black Monday and Black Friday. It is evident that last Sunday's liquidation was intentionally orchestrated by the market maker.
Currently, there is a good liquidity cluster above this week, and combined with last week's VP having heavy support at the bottom and light at the POC, this week's rebound is initially looking at 93000, then reaching 96000. Near 96000, there may be a handover to trigger another sell-off, but it is still unclear for now; we need to observe the price level of the liquidation cluster on that day.
Currently, there is a good liquidity cluster above this week, and combined with last week's VP having heavy support at the bottom and light at the POC, this week's rebound is initially looking at 93000, then reaching 96000. Near 96000, there may be a handover to trigger another sell-off, but it is still unclear for now; we need to observe the price level of the liquidation cluster on that day.
