#BTCBreaks80K
There is indeed a rather peculiar shift occurring here.
Just a few days ago, the picture looked quite different. There was so much upside liquidity above the price that it seemed a major sweep in that direction might happen first. However, that balance has shifted significantly now. There are no major liquidity clusters overhead at the moment; there is only a relatively small zone between the current price and $83K. On the other hand, a substantial cluster of long liquidations has formed below. This is where it gets interesting. If BTC sweeps the previous high and faces rejection, that downside liquidity could become the next major target. That said, I am not viewing this as a guaranteed move just yet, because the mere presence of liquidity does not dictate that the price will necesarily move toward it.
To me, the key factor now is how the price reacts around the $83K level. Whether we see a sweep or actual acceptance - distinguishing between the two could clarify a great deal about the next move.
#BitcoinMarketCapTopsTesla $BTC
$NVDA.US
$GOOGL.US
There is indeed a rather peculiar shift occurring here.
Just a few days ago, the picture looked quite different. There was so much upside liquidity above the price that it seemed a major sweep in that direction might happen first. However, that balance has shifted significantly now. There are no major liquidity clusters overhead at the moment; there is only a relatively small zone between the current price and $83K. On the other hand, a substantial cluster of long liquidations has formed below. This is where it gets interesting. If BTC sweeps the previous high and faces rejection, that downside liquidity could become the next major target. That said, I am not viewing this as a guaranteed move just yet, because the mere presence of liquidity does not dictate that the price will necesarily move toward it.
To me, the key factor now is how the price reacts around the $83K level. Whether we see a sweep or actual acceptance - distinguishing between the two could clarify a great deal about the next move.
#BitcoinMarketCapTopsTesla $BTC
$NVDA.US
$GOOGL.US
