๐จ THE SHARKS JUST SET A TRAP AT 60K ๐๐งฒ
๐ Heads up because this is exactly the kind of move that tends to confuse most traders
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There are reports of massive leveraged orders between 59k and 60k worth approximately $169 million
Many see that and think:
๐ข "There's support"
๐ข "They won't let the price drop there"
๐ข "It's impossible to break below 60k"
But those of us who've been in crypto for years know that often the opposite happens ๐
๐ When there's a huge liquidity concentration in an area, the price usually feels drawn to it like a magnet
That's why the
#Heatmap liquidations are so crucial
๐ฅ First, they swept
#long from 71k down to 62k
๐ฅ Then they pretty much cleaned out a large part of the liquidity between 63k and 66k
๐ฅ And now one of the most visible zones in the market is right between 59k and 60k
What's interesting is that it coincides with several things we've been discussing:
โ
Psychological zone of 60k
โ
Close to the 200WMA
โ
Very near levels where strong buyers historically show up
โ
Area where many expect a significant bounce
๐ณ And this is where the
#market makers often work their magic
Because if everyone is waiting to buy at 60k, they often try to push it a bit lower to flush out
#stop s and create maximum fear
๐ณ So I wouldn't be surprised to see a quick sweep down to 60k or even 58k-59k before a more serious bounce
What I do see different from other drops is that we've already seen over $2 billion in recent liquidations and a large part of the leveraged longs have been wiped out
๐ Less leverage
๐ Less euphoria
๐ More fear
And normally that starts to create the conditions for a bottom
๐ฅ The real question isnโt whether we hit 60k
The real question is whether when we get there, there will be enough panic to hand over more
#BTC to the whales
๐ Do you think 60k will be the bottom or is there still one last shakeout to 58k before the bounce? ๐๐๐