#BTC #BullTrap #Megadrop #bitcoinhalving #BullorBear $BTC Recent surge in BTC price has gained significant attention, with many speculating on the sustainability of this bullish momentum. Certain market dynamics suggest a possible bull trap scenario, with limited prospects for BTC to surpass the $68,000 level in the near term. Market makers, miners & whales, have orchestrated a push to inflate prices, fueled by substantial buying activity.
It is obvious that BTC will go high but not now as it has moved strongly upwards without a proper correction. In the world of financial markets, nothing goes up only up; at some point, it has to take a breather & a correction (mild or strong) to gather momentum & liquidity to sustain its upward trend. So far, BTC has been in a range even after much-anticipated of halving & Hong Kong ETF approval news.
looking at the money flow pattern of BTC at the pumping stage where whales & market makers bought aggressively for 4 H and sold even more aggressively at these higher levels within 15 minutes to trap the masses & take the liquidity away.
Liquidity heat maps reveal absence of liquidity at $67,500 & massive LP at levels of $65k & $64k, indicating reluctance to support BTC at higher price at multiple time frames.
Additionally, an influx of leveraged trading positions, coupled with the imminent threat of liquidations, can result in flash crash. The pattern of aggressive buying followed by equally aggressive selling by whales and market makers further reinforces the notion of a coordinated effort to exploit market.
Prudence dictates caution, avoid excessive leverage during heightened greed (73) at this time. Instead of relying solely on TA, understanding manipulated price action & Fair Value Gaps is crucial. Prevailing market conditions exhibit signs of manipulation, indicative of a potential bull trap scenario. Prioritizing risk management & assessing liquidity-driven movements is imperative for prudent trading.
In conclusion, the market appears choppy and manipulated, resembling a bull trap.