Post

$BTC Yesterday’s daily candle left behind quite a large wick to the upside.



Whenever BTC prints a wick like this, it often tends to get filled by at least 50%, as violent moves like these usually leave behind a lot of liquidity, which price then comes back to, to sweep.

Therefore, I believe it is likely that price retests the range highs once more before potentially continuing lower towards the range lows.

From there, we could see a short deviation below these lows followed by a quick reclaim before price continues its
broader uptrend.

However, I believe it’s more likely that we continue ranging for a little longer first, engineering more liquidity on both sides before that happens.

After all, price has only been consolidating between $83k and $87k for roughly two weeks now, while ranges like this can easily persist for several weeks before we eventually get a confirmed breakout.
post-image
This page contains third-party content and does not constitute any advice, nor does it represent Gate's endorsement of such views. For details, please see disclaimer.
BTCBTC-1.38%

  • 2

Add a comment
Add a comment

Comment
RTMgr
24 minutes ago
Waiting to see how this plays out 👀
0
GateUser-3ee4172a
an hour ago
What’s your take on BTC? 👀
0
CryptoSanam
an hour ago
What’s your take on BTC? 👀
0
limon120
2 hours ago
Hd hdb dnd bbdn b fnf bdb D b bbb bbb b b b bnb cvcc v v v bnb cvcc BBC bmj bbb b bb
0
limon120
2 hours ago
hj
0
HighAmbition
2 hours ago
First Review
What’s your take on BTC? 👀
0