Bearish sentiment is high, but the weekly chart tells a different story. We have massive Weekly Fair Value Gaps (FVGs) waiting above at: $2,400 $2,800
The Mechanics: These lines are not just resistance; they are Magnets. The algorithm seeks efficiency. It must eventually revisit these levels to rebalance the crash.
The Play: As long as $1,850 holds, we are just coiling before the inevitable snap-back to fill these voids.
$BTC creates a new ATH and current liquidation walls
In contrast to the stagnation over the weekend like previous weeks, just last night according to UTC, $BTC has continued to break through and create a new ATH at $106,640. And then it pulled back.
Along with that, a large amount of liquidation zones of $BTC and $ETH have been swept.
For $ETH, the liquidity wall on it is still quite bright as it hasn't broken the 4k86 zone from the previous weekend. #BTC☀
Currently, $BTC large frames, daily, weekly, and monthly have increased quite strongly. If we want to increase even more, adjustments and additional accumulation will be necessary. In this section, I believe that $BTC is still within the daily price channel, and touching the upper trendline may lead to a correction. I will open a Short position expecting the price to adjust. This plan is just my analysis for everyone to understand and sell to catch the correction. Anyone who shares the same view should take responsibility for their own wins and losses, okay #BTC☀ .
Although the outflow of $ETH from Cumberland is significant, most of it is internal transfers, which confirms that the balance decrease does not come from liquidation or distribution.
Note that a high balance will still be a confirming signal that they are targeting #etherreum .