Very important $BTC update!
$BTC just dumped to $79,700 and liquidated $1B longs in less than 24 hours!!!
But here’s the important part:
Bitcoin now has roughly $4B in liquidity above between $81,500 - $87,000, compared with around $750M below between $77,000 - $80,000. That’s more 5x more above, so there’s still a huge amount for price to attack if BTC can recover.
Short term, the two areas I’m watching are $77,400 - $79,600 below and $80,900 - $84,800 above. With BTC moving this violently, I’d expect one of these liquidity magnets to get tested today.
The whale map is interesting too. There are enormous buy orders stacked from $75,000 - $80,000, while orders above from $81,000 - $88,000 are relatively thin. For me, that gives Bitcoin a decent support cushion below and leaves room for a recovery if buyers step in here.
The part I still don’t love is the underlying demand. Spot buying remains weak while leverage traders are still active, so this isn’t the cleanest recovery setup yet.
So to make things simple:
- $77.4k - $79.6k is the main downside liquidity zone
- $80.9k - $84.8k is the main upside zone
- Roughly $4B liquidity is now stacked above on the HTF
- Huge whale bids remain between $75k - $80k
- Reclaim $81k and I favour another push towards $83k - $85k
- Lose $79.6k and I’d be watching $77.4k - $78k next
$BTC just dumped to $79,700 and liquidated $1B longs in less than 24 hours!!!
But here’s the important part:
Bitcoin now has roughly $4B in liquidity above between $81,500 - $87,000, compared with around $750M below between $77,000 - $80,000. That’s more 5x more above, so there’s still a huge amount for price to attack if BTC can recover.
Short term, the two areas I’m watching are $77,400 - $79,600 below and $80,900 - $84,800 above. With BTC moving this violently, I’d expect one of these liquidity magnets to get tested today.
The whale map is interesting too. There are enormous buy orders stacked from $75,000 - $80,000, while orders above from $81,000 - $88,000 are relatively thin. For me, that gives Bitcoin a decent support cushion below and leaves room for a recovery if buyers step in here.
The part I still don’t love is the underlying demand. Spot buying remains weak while leverage traders are still active, so this isn’t the cleanest recovery setup yet.
So to make things simple:
- $77.4k - $79.6k is the main downside liquidity zone
- $80.9k - $84.8k is the main upside zone
- Roughly $4B liquidity is now stacked above on the HTF
- Huge whale bids remain between $75k - $80k
- Reclaim $81k and I favour another push towards $83k - $85k
- Lose $79.6k and I’d be watching $77.4k - $78k next