A Swinging Market Retesting Sell Offs
BTC, ETH, SOL, alts, and most assets like to swing up and down moving from liquidity zone to liquidity zone.
Whales need price to come to these areas of interest in order for them to put on their large position sizes without getting clobbered from slippage and large spreads. They take out the areas where large orders sit then price reverses or finds support/ resistance.
Here I have shown where large sell offs happened and the consistent retesting of such levels.
There remains a lot of liquidity up above 60k and prices left untested. Idk when but I am aiming for 64k and 69k then a breakout eventually.
A retest of 52k ish is not out of the question but we look to be in a similar spot as we were back in early May before a breakout back to the range high (70k)
A true invalidation is if price breaks down further than 50k and begins to hold below it.
The volume has been low this past week with very choppy price action and lull periods. A major move in either direction is still in question.
BTCUSDT
Whales need price to come to these areas of interest in order for them to put on their large position sizes without getting clobbered from slippage and large spreads. They take out the areas where large orders sit then price reverses or finds support/ resistance.
Here I have shown where large sell offs happened and the consistent retesting of such levels.
There remains a lot of liquidity up above 60k and prices left untested. Idk when but I am aiming for 64k and 69k then a breakout eventually.
A retest of 52k ish is not out of the question but we look to be in a similar spot as we were back in early May before a breakout back to the range high (70k)
A true invalidation is if price breaks down further than 50k and begins to hold below it.
The volume has been low this past week with very choppy price action and lull periods. A major move in either direction is still in question.
BTCUSDT 
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