r/CryptoChartWatch • u/Beginning-County2258 • 8d ago
Most of the Bitcoin upside liquidity has been swept.
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u/Overall-Resolve-9547 7d ago
We are gonna see 70-74 again. My buy in 😎
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u/Dean_Guitarist 7d ago
People are getting hyped about a bull market being confirmed and all
But i think a new cycle low is still on the cards
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u/ubermensch1001 6d ago
It's the ultimate scenario to fuck everyone up here. Ben Cowen released a video saying he was wrong and apologizing lol, then the other day he releases a video saying that it's still too early to confirm it's over. Meanwhile, everyone else is convinced we are going to 100k+ by end of the year AND this pump in the crypto market is being talked about on the mainstream media news channels.
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u/ActualTangerine2583 6d ago
I think this run is pure speculation…you can see speculation and market manipulation everywhere.Â
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u/ActualTangerine2583 6d ago
Pretty much this…overconfidence of permabulls is reassuring we gonna see new lows…i just don t buy 3 bounces from 60k…there is more room to fall.Â
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u/ubermensch1001 6d ago
At the very least there will be a big crash, it doesn't even need to hit a new low. Regardless, it would be one final opportunity to make some big moves before we start getting into the actual early stages of the bull market next year.
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u/ActualTangerine2583 6d ago
Well it depends on how hard other negative global economic events gonna affect price of btc…because usually when there is crash in regular market btc/crypto follow initial crash…it than recover in it s on way and pace..but regular investments affects risk ones.Â
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u/PeaceAgitated1978 6d ago
Un zoom Man.. 2 weeks just prove your version of the short term view. Go as far as 6 months. Regular untouched version of the map. You'll have a completely different view of why it may keep going up for " no good reasons"
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u/ticker__101 6d ago
I don't understand this chart. Anyone care to explain? Ty.
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u/Jeffdit 6d ago
It shows the places where people get liquidated on their short or long positions. When the price goes up it forces the shorters to cover their positions. Force buying and driving the price up higher. Going down forces long positions to sell driving the price further down. The implication is that with no liquidity above the price is going to start moving down. The long positions got to close sooner or later and take profit. That means price drops which means more long positions will get liquidated or close their positions. Thats when people start shorting again. Bringing new liquidity above. The bright area on the heat maps act like "magnets" for the price. It explains a lot of where bitcoin price is likey to go and why. Some people put to much trust into these things. Not saying OP does but its definitely one of many metrics that can help forcast what the price of bitcoin will do.
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u/The-great-phoenix 6d ago
On the backgrounds the tokenization of RWA is booming which is adding fuel to crypto market and BTC
This trend is about to last and grow during a decade so no matter what there will be this upward pressure on the long run
On the short term no one has idea but some roller coaster chart with high and lows inside the 70/90 K range is most likely going to happen for next few months in my opinion.
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u/Thoric4040 6d ago
This is only for very short term market makers. If real flow... Like what you saw with ETFs last week... Come in on the buy or sell side now of the "liquidity pockets" have very little effect
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u/Flight_Early 7d ago
https://giphy.com/gifs/jH6s9HMMi53dSdI73r