history repeats itself - the main postulate of market analysis. Here I see a standard scheme for capturing liquidity. A level is created behind which market participants place stop orders. As soon as a large number of them accumulate there, the price breaks through this level, collecting liquidity. With a sharp return behind the level. This is how bitcoin turned around from 16k
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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.