Bitcoin
Short
Updated

Bitcoin's Unbalanced move with the US elections

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The overall trend is still bullish, but the market needs to rebalance at $86,686 before it can push to new highs. Right now, the price action is not respecting bullish structure and is moving sideways in a consolidation phase.

The market does not move in a straight line. Every strong move needs to be balanced before continuing. The price left behind inefficiencies during the last expansion, and the market seeks to correct these before the next leg up. Liquidity is key. Right now, there is an imbalance that needs to be filled, and resting liquidity below must be taken before the market can resume its upward trend.

Smart money is not buying at current levels. They need better pricing and the market naturally moves to levels where institutional interest is highest. That level is around eighty-six thousand six hundred eighty-six, where a large amount of liquidity is positioned. The market is likely to dip into this level, take out weak-handed buyers, and trap sellers before pushing higher.

A ten percent drop from here would bring the price into that area, where real accumulation can take place. Until then, any short-term rallies are likely to be liquidity grabs rather than true continuation.


Please do not forget that this is a daily chart and we can see more liquidity grabs before reaching the target. This is an idea and nothing in the future is certain. With unexpected news we can see unexpected moves.

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