BitcoinLong
BTC daily structural analysis 1/11/25
A strong daily trade here to the upside.
I'm expecting a lot of people to get trapped seeing the obvious liquidity structure to the right of the strong high, however, we also have structure on the left side of the strong high that created an internal low between our CHoCH high, and strong low.
I expect that they will trap people at the liquidity draw, an obvious place for their stop loss will be that internal low, causing the very liquidity they're looking for as a manipulation of price.
We see some signs of where I would expect the action to actually go down.
-Again, the weak internal low is an obvious stop for many traders going long.
-The zone above it is the 61.8% fib, where many traders will open positions and set the stop at the low.
-Volume profile Delta shows that that was the last trapped area before the Choch.
-10 min OB is still active and I think many people will hone in on the OB at 93800 instead.
Its important to note that while the bigger structure on a larger timeframe for BTC is still bullish, it has failed to put in a higher high for a while now, and price has been steadily trying to find an internal low above the strong low that has resulted in a higher high.
I think there is a lot more liquidity below us than above us, but the CHOCH shift to bearish has not happened yet, but I do think that bitcoin has a LOT of price to shred before continuing on its bullish run.... But that's for a later time. For now, lets just concentrate on the daily.
I'm expecting a lot of people to get trapped seeing the obvious liquidity structure to the right of the strong high, however, we also have structure on the left side of the strong high that created an internal low between our CHoCH high, and strong low.
I expect that they will trap people at the liquidity draw, an obvious place for their stop loss will be that internal low, causing the very liquidity they're looking for as a manipulation of price.
We see some signs of where I would expect the action to actually go down.
-Again, the weak internal low is an obvious stop for many traders going long.
-The zone above it is the 61.8% fib, where many traders will open positions and set the stop at the low.
-Volume profile Delta shows that that was the last trapped area before the Choch.
-10 min OB is still active and I think many people will hone in on the OB at 93800 instead.
Its important to note that while the bigger structure on a larger timeframe for BTC is still bullish, it has failed to put in a higher high for a while now, and price has been steadily trying to find an internal low above the strong low that has resulted in a higher high.
I think there is a lot more liquidity below us than above us, but the CHOCH shift to bearish has not happened yet, but I do think that bitcoin has a LOT of price to shred before continuing on its bullish run.... But that's for a later time. For now, lets just concentrate on the daily.
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