Explaining the $BTC short trade: first of i saw that we grabbed all the liquidity from that lvl, and as you can see in the red circles, everytime we touch this trendline, and the 4h candle close below we reject, and i use also my lvl there as resistance and waited for 4h candle to close below, clean from entry to TP.
As we analyzed in the morning's Order Flow that the move was perp driven and will get retraced.
And it did exactly that, currently price is chopping around 79.1k.
And there's uncertainty building up in the market,
So here's my thoughts on what could happen,
Scenario 1: We start pumping with OI and Spot climbing alongside and reclaim 80k,
In this case we would straight go back to 82k and try breaking it again and I think we are surely gonna sweep the liquidity on the highs this time if we pump.
Scenario 2: We start dumping as Spot is already weak here, so sellers are still in control and flush more longs and sweep the liquidity at 77.8k.
Nothing's really clear rn but personally I am expecting a pump, where we sweep the highs and close the weekly candle below 82k.
The structure is definitely bearish on HTF,
But a sweep of the highs is still due and that's the reason for why I think we gonna clear upside before forming the top and starting the another leg down.
I am still swing short FYI, and my HTF is still bearish.
$LAYER is holding strong after a heavy liquidity flush.
Entry: $0.092-$0.095
Stoploss: $0.085 โ
Targets: $0.101-$0.112-$0.13 โ
Heavy volume continues to rotate around the local base as sellers struggle to extend the breakout.
The recent correction looks more like a leverage clean-up than a complete trend failure, and a recovery of supply nearby could trigger another momentum expansion.