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Close to 80,000
Bitcoin has presented a perfect trap move.
We pushed from around 77.7K → 79.4K, almost touching that psychological 80K mark, but again… rejection hit hard.
This isn’t the first time — the same behavior was seen just 5 days ago.
This clearly tells us one thing: the market is not ready to extend higher.
What just happened?
• Massive buy position liquidations dominate
• Over-leveraged long positions were wiped out as the price dropped to around 76.5K
• Classic liquidity sweep → rejection → continuation of the decline
• Price rejected at resistance twice.
• MACD indicator turns bearish, momentum fades.
• RSI indicator cools off → no continuation of strength.
• Imbalance in long position liquidations = bulls trapped
👉 When long positions are locked in, the market usually moves against them first
📌 Now, $BTC it’s not bullish…
Hesitating below resistance with weak momentum
And when the market hesitates after locking in long positions…