In today's article we will discuss $BTC Technical Analysis, Liquidation Levels and then we will finalize our decision of buy or sell. Let's start analyzing #BTC☀️ chart:-
Liquidation Levels:-
If we look at liquidations levels, it is clearly showing that most liquidations are present in a downward direction. So, most probability #Bitcoin❗ moves in downward direction to liquidate longs. Most of 50X and 100X leverage traders' wallets will be liquidated if BTC hits the $96,400 area. In short words BTC can move in the downward side to liquidate longs.
1H TF BTC Chart:-
If we look at the BTC 1H TF chart then it is clearly showing weakness. Here are key points that are indicating weakness and hinting downward move:-
🔸Buying Climax with next bearish bar and ultra high volume showing selling pressure. (emended in two horizontal green line).
🔸In ellipse 4 candles marked indicating weakness with avg. volume. Mean buyers are not interested much more to move the market upward.
🔸Hidden upthrust marked with green arrow showing liquidity sweep (Shorters S.L grabbed) it also confirms BTC downside move.
All these things are showing that #bitcoin is looking weak and can drop. If we apply FIB tool then it is showing BTC can bounce a little bit from the $96,000 area.
Final Decision:-
After combining all these things we reached a point that BTC will move in the downward side so avoid buying and wait for correction. Once it hits the $96K area we will analyze charts again and will check whether we should buy or wait for more dip like $91K. That is the point where I will in all.
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