Shorts are stacking up over the weekend, divergences forming, liquidity pools building above and below. Classic setup where both sides get wrecked before the real move. Betting on a direction here is just donating to market makers.
$BTC dumped to $77,100 yesterday after the $79,400 pump on Tuesday, liquidating $208M longs!
That's now $316M liquidated in the past 24 hours!!!
Now, $74,500 - $76,500 has sizable liquidity that could be swept.
However, $78,500 - $82,000 above has slightly larger liquidation clusters built up, making this the 'more likely' area to visit next from a liquidity perspective.
$GRIFFAIN liquidity sweep is why taking profit, setting stoploss, derisking your trade after it goes to profit is important not caring what happens after.
Lots of you guys think trading is complicated.
And I understand you, because if you experience things like what just happened to $GRIFFAIN if you're not mentally strong and disciplined you will quit crypto trading saying it's highly volatile and manipulative.
If you say that, you are right and wrong at the same time.
Here is why.
The market and price movement isn't meant to control you.
Your discipline, strategy and trading plan should.
Take for instance, my Profit taking strategy I follow routinely state that hence a trade hit 200% pump on futures, I will immediately take 50% of my profit and derisk my capital by moving my stop-loss to entry.
I do my best to stick to it always although sometimes I adapt.
However, if I take profit or any trade hits stoploss, I move into the next, I don't have time to mourn stoploss or regret profit I didn't take because I always do.
But most of you won't develop a plan, a strategy and even as common as trading rules that's why charts 📉 movement, manipulation and liquidity sweep often mess with your emotions.
Soon you will be exhausted and quit that's if you didn't get liquidated.
That's not trading bro, it's called gambling, and nobody ever made a consistent significant life-changing money approaching trading that way.