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Justsomeguy

@justs0meguy

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Justsomeguy
@justs0meguy
I’m a bit more neutral now on BTC than I was on my previous few posts, but there is honesty still plenty of liquidity overhead for market makers to tap into. My stop loss is at break even but I’m going to let it run, potentially up to 65K. 
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Justsomeguy
@justs0meguy
I said BTC would bounce based on liquidity… believe me now?
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Justsomeguy
@justs0meguy
Lower liquidity cleared…. Now we can go back up
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Justsomeguy pfp
Justsomeguy
@justs0meguy
We’ve seen each bounce get sold in BTC the last 24 hrs, and I think we dump soon… but first, liquidity would suggest a quick liquidation pump to 64700😅
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Justsomeguy
@justs0meguy
BTC looking toppy this morning. Odds favor a pullback here.
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Justsomeguy
@justs0meguy
Looks like my bottom call was on point…. Now I think this pump might be a bit stretched. Time to close up swing trade longs, and maybe even position short for a pullback soon.
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Justsomeguy pfp
Justsomeguy
@justs0meguy
Four hours ago I called, in real time, for a long ladder (placing multiple limit orders with a range to see what gets hit) at support, based on price action and liquidity levels… This is where the position stands now:
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Justsomeguy
@justs0meguy
The bitcoin chart is admittedly looking pretty scary here. But… We are currently resting on firm support with plenty of liquidity up near 66K. Allow for wicks below 60 K and this is a good place to ladder in long as long as you play it with a reasonable stop loss. 
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Justsomeguy
@justs0meguy
Did today’s price action catch you off guard? Did yesterday’s? The vast majority of all bitcoin price movement is just market makers extracting liquidity from over leveraged traders. 
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Justsomeguy
@justs0meguy
There it is… exactly as predicted.
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Justsomeguy
@justs0meguy
Pretty straightforward weekend liquidation moves here. They took out the lower liquidity target, so seems likely that the next stop should be the 64K to 64.5 K range. 
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Justsomeguy
@justs0meguy
I don’t trade as much on weekends, but it’s a good time to step back and look at the bigger picture. Well, there could easily be a liquidity hunt below 62K, it seems highly likely that we visit 65K soon because there are just so many high lev shorts to get taken out around that range .
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Justsomeguy
@justs0meguy
This is why liquidity mapping is so important. High leverage longs popped up overnight, so they got cleared out, and only after that did BTC then aggressively reverse higher!
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Justsomeguy pfp
Justsomeguy
@justs0meguy
I think it’s time to bet on a BTC reversal here, inverse head and shoulders on low time frame with a liquidity based target of 65,600. I’m long…
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Justsomeguy
@justs0meguy
These leverage traders just never seem to learn. At the first sight of a bounce they go all in long and of course get liquidated. Good news is, we got some easy liquidation targets directly overhead, so I’m looking for bounce in the next several hours. 
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Justsomeguy
@justs0meguy
BTC Wedge played, and 65400 liquidity pockets taken out as predicted. I’m conflicted here because all of the liquidity seems to be overhead, back around 67k.
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Justsomeguy
@justs0meguy
… and there is the Bitcoin reversal to the downside. Nothing super significant here yet though, just a $1000 correction for now. But, if it accelerates, it could take us way lower. I’m not calling a direction on this one quite yet. Liquidation maps show easy targets down to 65,400 though…
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Justsomeguy
@justs0meguy
In my previous post, I warned they would pump to flush shorts, and here we are.. likely still that they tap 67300 or higher, but I think the reversal to the downside still follows.
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Justsomeguy
@justs0meguy
Bitcoin’s price action this morning is a bit frenetic, but price went straight down to the trend line, which also corresponded exactly with the liquidity pockets I pointed out yesterday. Don’t be surprised if they flush out shorts by pumping to 67,300 before ultimately heading lower over the next 24 hours. 
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Justsomeguy
@justs0meguy
Per my previous post, we are still in the middle of the spike up to clear overhead liquidity, but inside of a pretty obvious Bearish rising wedge into resistance. The problem is, it’s too obvious and too many people are shorting it high leverage so they’ll probably flush those positions before heading lower. 
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