๐ BTC in 4H: the market is preparing for the next move
BTC has just made an interesting move on the 4-hour chart.
First, it rose sharply to 73k+ and then we saw a quick rejection, which normally means that the market is taking liquidity before the next move.
๐ง Something important that many do not see:
The market rarely moves in a straight line.
It usually does this:
1๏ธโฃ breaks liquidity
2๏ธโฃ retraces to trap new traders
3๏ธโฃ continues to the next zone
๐ Right now the important zones are:
Support:
70k โ 71k
Resistance / liquidity:
73.5k โ 74k
If the price remains above 70k, the most likely scenario continues to be looking for 74k.
But if it loses 70k, then the market could go seek liquidity near 68k before continuing to rise.
๐ก Remember something in trading:
The price always goes where the liquidity is.
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What do you think BTC will do now?
๐ฅ Go for 74k
๐ Return to 70k