
Randy
6.1K posts




Not the prettiest candle on $BTC. Things are starting to get interesting now. Unable to flip 79.3K = 76.3K.







$BTC Price action is consolidating, but the buildup in OI signals clear instability at current levels. Spot markets are highly volatile right now, reflecting indecision among buyers. This setup could easily lead to further downside if selling pressure intensifies. Long positions continue to get liquidated on a daily basis. As I’ve been saying for months, the massive liquidity pool down to $70k simply cannot be ignored. To reiterate, I expect price to retrace further toward $75k before we see a modest bounce to the upside.




$BTC - Confluence Area Reached. What Now? 2 days ago I made a post talking about the $76k - $76.8k region being the next major confluence area I was watching. Since then, price has now moved directly into that region and is currently reacting from it. So far, Bitcoin has: 1. Took out that area of liquidity 2. Tagged the 0.786 fib 3. Wicked into the 50D & 100D EMA multiple times ---------- At this point, there are mainly 2 things I’m watching: 1. Price bounces from here (or quickly dips to tag the monthly open) and moves back toward the green box, where I’d then watch to see whether Bitcoin gets rejected again or starts reclaiming it 2. Price fully loses this confluence area and moves into the next major liquidity zone around $74.3k - $74.9k, which also contains the 50D MA currently sitting at $75.6k So for now, I still think the green box is the main area to watch. Wouldn’t surprise me at all if Bitcoin trades back into it soon to test whether it becomes support again or turns into resistance.


























