A huge cluster of long liquidation levels is building up in the $2.62–$2.76 range.
More dangerous than this pileup is the fact that momentum is already fading. On the 4-hour chart, price action and the MACD are showing a bearish divergence, while price has drifted too far from the moving averages. The market is struggling to push higher, yet bulls have piled up leveraged positions beneath their feet—positions primed to bleed.
There’s no fresh momentum to drive prices higher, while liquidation liquidity is waiting below. A pullback to shake out the market—or even a break through the bulls’ defenses—is often the path of least resistance.
#ORCA
👇
More dangerous than this pileup is the fact that momentum is already fading. On the 4-hour chart, price action and the MACD are showing a bearish divergence, while price has drifted too far from the moving averages. The market is struggling to push higher, yet bulls have piled up leveraged positions beneath their feet—positions primed to bleed.
There’s no fresh momentum to drive prices higher, while liquidation liquidity is waiting below. A pullback to shake out the market—or even a break through the bulls’ defenses—is often the path of least resistance.
#ORCA
👇