I looked at the BTC chart today and things are interesting. Up top, we have a lot of stacked liquidity up to 75k, but what catches the eye is that below us, there is much more accumulated volume. The largest pockets are at 62k-60k, with a very dense grouping around 65k-66k. There is a critical point at 63.8k with about 250 million in leverage – this is a strong magnet downward.

In the short term, we see that the positioning is still very long, despite liquidating over 200 million yesterday. The liquidity level delta is at +150, which means the distribution favors a downward move first. It makes sense after the rally we saw on Monday, but that doesn’t mean we’ll drop immediately. People are still vulnerable below, so I stay reactive, watching how this unfolds.