bitcoin to $30k ?
I'm a complete bitcoin bull, but when i look at the higher time frame chart through institutional eyes, i can't help but notice this scenario.
Close to all retail is waiting for one last bounce towards $40,5k, so they can fill their bags for the rallies ahead. But this makes me look at all the liquidity below the lows (on chart).
I feel like the large institutions will likely send bitcoin below these lows just to scare and liquidate the retailers. Possibly come down towards the bottom orderblock so they can mitigate their positions.
Not in this chart but also noticable, still large amount of supply / volume between 28k and 40k.
This scenario would not only scare the bulls by dropping below $40,5k...
It would also scare the bears since all of them are looking at the larger time frame head and shoulders pattern which wouldn't play out either...
(larger head and shoulders pattern has a target of around 24k, depending on how you draw it)
Close to all retail is waiting for one last bounce towards $40,5k, so they can fill their bags for the rallies ahead. But this makes me look at all the liquidity below the lows (on chart).
I feel like the large institutions will likely send bitcoin below these lows just to scare and liquidate the retailers. Possibly come down towards the bottom orderblock so they can mitigate their positions.
Not in this chart but also noticable, still large amount of supply / volume between 28k and 40k.
This scenario would not only scare the bulls by dropping below $40,5k...
It would also scare the bears since all of them are looking at the larger time frame head and shoulders pattern which wouldn't play out either...
(larger head and shoulders pattern has a target of around 24k, depending on how you draw it)
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