Market Manipulation or Just Liquidity Sweeps? $BTC
As the price retraces from the 70,000 area, I'm eyeing the support level around 68,000. If the price reaches this level and shows rejection, indicating a bounce to the upside, it could signify a simple break of structure and a continuation of the uptrend.
In such a scenario, I'll consider taking another long position if the break of structure happens.
My other trade closed in profit around the 70500 area.
It’s sudden drops like this that get people emotional and uncertain of what is going on and of course the retail traders that will try to tell you that it will go to ZERO !!
On another note as we can see on the heat map there is a lot of liquidity sitting at the areas of 68000 and 72000 accordingly.
So the sudden fall is probably just a liquidity sweep and i think that we will go to 68000 first to clear out all the late long positions and then head up to 72000 either today or tomorrow with the start of London session.
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