Bitcoin: Liquidity Grab Copies Prior Month
Michaël van de Poppe states Bitcoin price action mirrors the previous month after liquidity below the low was taken, with consolidation favoring a swift bounce to reclaim $81,000 and target new highs amid deeply negative sentiment.
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Bitcoin price action mirrors the prior month after liquidity beneath the low was swept, leaving the market consolidating in the same zone according to @CryptoMichNL.
The trader favors a swift bounce that reclaims $81,000 and prints a higher high, which would trigger short-side liquidity and fuel a push toward fresh highs as sentiment has turned excessively bearish.
On the 4h chart Bitcoin trades at $80426.01 inside the Bollinger Bands with the lower support at $79572.82 and upper resistance at $81888.81; the EMA50 at $81437.4 and EMA200 at $81856.2 cap upside while the MACD death cross at -477.42 keeps the structure bearish and RSI at 43.55 shows neutral momentum, suggesting any reclaim of the EMA50 cluster could open the path to the upper band before continuation.
Michaël van de Poppe
@CryptoMichNLMacro-Economics, Value Based Investing & Trading || Crypto & Bitcoin Enthusiast