BTC is leaning towards a scenario of liquidating the upper side first.
I see $BTC that there are currently two liquidity clusters that are quite noteworthy, and this is a very important factor to read price behavior in the short term. HTP96 will share this with you guys.
Above, the area around 74,000–75,000 USD is experiencing a significant amount of short liquidation.
In my view, this is an area that can easily attract price if the market still maintains its upward momentum. When the price reaches this zone, the short orders that are forced to close will create additional buying pressure, which could strengthen the upward trend in the short term.
Meanwhile, below, the area under 70,000 USD is concentrating long liquidity.
This indicates that if the market weakens and turns to decline sharply, this area could become the next price magnet due to the long positions being liquidated en masse. However, at this point, I do not see this as the main scenario.
The point I notice the most is that Bitcoin is still showing quite good strength. The current price structure has not yet shown enough selling pressure to pull the market into a deep correction immediately.
Therefore, in my opinion, the higher probability is that the price will continue to sweep the liquidity above first, that is, to absorb all the short liquidation around 74,000–75,000 USD, and only then consider the possibility of a reversal or a clearer correction appearing.
In other words, when the trend is still leaning towards strong, the market usually prioritizes hunting for liquidity in the prevailing direction. With BTC at this moment, I still lean towards the scenario where the bulls are holding the short-term advantage.
#BTC