Market makers and Bitcoin
Last idea we talked about how market makers drove the price up past the last high. Liquidity drives price and looking at the chart my bias is bearish because of the amount of liquidity hunts happening at resistance filling big players their positions.
Before the first green arrow the market looked like bearish continuation, meaning that novice traders were going short (with their stop above the last high). once the low was taken out, breakout traders and longers were trapped and their stopped was activated, giving liquidity to big players.
Big players drove the market past the last high, taking liquidity off the market of people who were short, This happened a couple times before the breakdown happend.
Expecting more downwards movement to 6400 (next buys side of liquidity)
Follow our signals using our crypto signal scanner (comment)
Before the first green arrow the market looked like bearish continuation, meaning that novice traders were going short (with their stop above the last high). once the low was taken out, breakout traders and longers were trapped and their stopped was activated, giving liquidity to big players.
Big players drove the market past the last high, taking liquidity off the market of people who were short, This happened a couple times before the breakdown happend.
Expecting more downwards movement to 6400 (next buys side of liquidity)
Follow our signals using our crypto signal scanner (comment)
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.