Today’s Market


The liquidity + absorption at 80k for this low-long position—from the weekend until yesterday, it finally got absorbed.. This wave first eats 1000 points..
Right now, the upper side still appears to be suppressed by the target guy’s 3000 BTC sell orders at 81,275.. (Figure 1)
During the Asian session, it absorbed some buy orders during the day, and there were about 1000 actual transactions, so this isn’t spoofing.. There are still 2000 left suppressing..
Just now during the European trading session as well, a large wave of aggressive buy orders was absorbed—once it was found it couldn’t break through, the market turned its head.. (Figure 2)
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Currently, for spot, above 81.5k, a new wave of sell orders has been added to suppress.. The futures are adding a new wave around 82~83k..
With a sell-pressure structure like this, it would likely need good positive sentiment in order to break through..
Below, the buy zone near 80k in spot and the futures that I mentioned yesterday has already successfully absorbed yesterday’s wave at 80k.. Today, there isn’t very strong support at 80k..
If it keeps moving lower, the low-long would need to wait around 79.5k...
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Figure 3 Liquidity.. Still similar to yesterday.. Yesterday, liquidity continued to accumulate below the prior low..
So it’s still the low-long range..
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