#BTC
In a ranging market, price generally moves toward liquidity. Most of the downside liquidity has already been absorbed, and a large cluster of liquidation levels is now building up around 88K.
The price has now broken away from the lower end of the range, making 88K the key target ahead. It will most likely reach that level within the next few weeks.
There may be another sharp drop to form a short-term low along the way, but the large liquidation cluster around 74K is very likely a bear trap.
In a ranging market, price generally moves toward liquidity. Most of the downside liquidity has already been absorbed, and a large cluster of liquidation levels is now building up around 88K.
The price has now broken away from the lower end of the range, making 88K the key target ahead. It will most likely reach that level within the next few weeks.
There may be another sharp drop to form a short-term low along the way, but the large liquidation cluster around 74K is very likely a bear trap.