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6 273
The August 19 short squeeze cleared leverage but hit dense overhead supply.
After exceeding $80K on August 27, price reversed toward $76K, triggering long liquidations. The liquidation heatmap shows price bracketed by short liquidations between $83K-$86K above and long liquidations between $60K-$63K below.
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6 273
BTC/USDT had a sharp jump in market prices and started moving down after being rejected from resistance.
The price broke the resistance trendline and is now back for a retest, looking for a small reaction.
However, if there is a flip in the daily timeframe, it could move lower.
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BTC/USDT closed its weekly candle pretty well with a strong bearish close.
On the hourly timeframe, price is still moving back and forth around the support area.
Price has now flipped the zone again and is expected to be rejected from the resistance line.
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BTC/USDT had a rejection candle from the resistance area and is forming a strong bearish candle.
Price is now flipping the support, which might turn the market bearish till the next support area at $73,750 - $74,500.
6 273
BTC/USDT going into the consolidation after being rejected from the key area.
After such strong move, ranging means a breakout can lead the market is some direction with strong move.
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BTC.D gave a fakeout and is now breaking lower, with the Index floating between key areas.
If the Index moves lower, it will already generate good money flow in altcoins, as we have seen altcoins jump significantly over the past two weeks.
Further movement is expected, and it may continue to move lower.
6 273
BTC/USDT is again forming the Wedge pattern and, after the breakout, moving lower very correctively.
We have CPI at the end of the week, so we can expect a strong move at the end of the week.
