🚨BITCOIN TESTS RESISTANCE WITH LOW LIQUIDITY
The BTC price remains boxed in a post-dump accumulation region, but it could quickly turn into a redistribution zone given the weak liquidity structure in this area.
After capturing liquidity above $74K and delivering, we are testing this resistance again around ~$71200, and a failure here could/should push the price into the lower regions of the box.
Without structural buying spot volume, the market is likely to remain in this bi-directional volatility, which is fertile ground for liquidating both sides of the market.
As I posted earlier, we can already see an improvement in liquidity via stablecoins, but it is still low, and we do not know when it will rotate into directional positions. Therefore, the structure lacks confirmation.
If this resistance is surpassed with significant spot volume, we will return to reassess.