$BTC

BTC

77,691.24

-0.83%

After creating a bearish market structure shift at the highs, price is now failing to continue its trend and is breaking back into its previous range for the first time since establishing this uptrend.

This clearly shows that price is loosing strength and we are about to retest the lower end of the channel.

However, with the MSS at the highs, most liquidity sitting below the trend and longs heavily outweigh shorts, the probability of a breakdown is much higher than continuation.

For market markets, this is the perfect opportunity for a long squeeze as there is this massive imbalance in the market right now.