All right my crypto friends I think it's time again for another little
$BTC update
The last time we formed the old ATH was when we briefly exceeded $120k. No liquidity was grabbed at the peak. However, the liquidation of many short sellers above $110k probably led to a short-squeeze, probably additionally fueled by market buyers.
In any case, the ATH was sold off again in a flash, forming a low. This low also liquidated a lot of FOMO longs, who bought immediately after the short squeeze ended.
Some who bought the low placed their liquidation price directly below the low. Those who did not sell in the following upward movement were taken out of the market a week and a half later by another liquidity run.
On the rejection of the last test of the top of the channel, some short sellers entered the market, placing their liquidation prices either above the last high or above the last ATH.
The next step, however, was to take out those, who had bet on rising prices during the last V-like upward move in the channel.
After these were liquidated,
$BTC started a new run to new ATHs. In this move, those short sellers who shorted the fail of the channel top and put their liquidation prices above the last high or the ATH, were taken out of the market.
Magically, those who shorted
$BTC before the two new ATHs, were spared. The liquidations of these sellers ~$126k would also be the main liquidity, which still remains above us. This could potentially lead to another ATH.
Before we dive lower.
In fact, we are already diving at the moment. And are on the verge of liquidating the longs, which longed the last liquidity run before the new ATH.
In fact, liquidations down to ~$104k would be possible short term, while ~$110k should be a strong support.
ALT $BTC liquidation map
Sup crypto fam 🤝
After X gave me a little break, I'm back with a little
$BTC update 🔥
After we reached old highs ~$112k, there was a small cooling off period. During this big bull flag, many short sellers gradually entered the market 📉
With every lower high that was formed afterwards, more and more short sellers entered the market. These have all placed their liquidation price above the highs 🏔️
These liquidations were all triggered by an explosive breakout to the upside. This is probably because when the first stops were triggered, further stops were triggered by them. This has led to a short squeeze 💥
At ~$123k we stopped just before the next liquidations. We are ranging at the moment .
Maybe we'll get the liquidity above us before we take another dive.
What do you think?