High Liquidity Zone
TOTAL3 Working through a high liquidity zone...
Price found resistance at the liquidity line a few days back and currently being held up by another liquidity support structure.
Pressure is building in this area; it's bound to pop somewhere.
I have color coded each fib pivot to correspond to the fib structure to help avoid confusion.
As my instructor dRends35 mentioned - if the correction phase continues downward; a possible outcome is a retracement to the 0.618 Golden Window Support structure.
I am favoring those odds as well. This would be a solid area for support. If there is something else in the MM's playbook, I would not be surprised if a lower low was in the books as well.
If that play is called, I would expect the 1:1618 (teal colored support structure) to be the area for that, as this is a Phi based fib.
Overall, I think the market is looking very exciting. ETH/BTC and ADA/BTC are currently moving (to the upside) in opposite directions of BTC. Some small signs that the tables are turning.
Good Luck Traders!
- Not Financial Advice -
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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.