Justsomeguy

@justs0meguy

94 Following

25 Followers

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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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I said BTC would bounce based on liquidity… believe me now?

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Lower liquidity cleared…. Now we can go back up

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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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BTC looking toppy this morning. Odds favor a pullback here.

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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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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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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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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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There it is… exactly as predicted.

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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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