$BTC Price Action Analysis
Inside the red circle you've drawn:
There was a sharp drop (strong bearish candle)
Then price formed a long wick (possible liquidity grab)
After that, price moved sideways, forming a tight consolidation range
➡️ This is a clear sideways market, or range-bound phase
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🔺 2. Chart Pattern Forming
A Symmetrical Triangle is forming:
Price is creating higher lows and lower highs
Buyers and sellers are both compressing price into a narrow zone
This indicates indecision and potential breakout buildup
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💧 3. Liquidity Zones Identified
🔴 Upper Liquidity Zone ($104,200–$104,600)
Price previously rejected from here
Many retail traders may have stop losses above this level
➡️ If price breaks this and reverses — it's a liquidity grab trap
🔵 Lower Liquidity Zone ($102,400–$102,800)
This was where a long wick occurred earlier
Stop losses may be placed below this zone
➡️ If price dips below this and quickly reverses — another liquidity grab
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📉 4. Volume Analysis
Volume was high during the drop
It’s now decreasing → typical of consolidation
Watch for a volume spike during breakout — that confirms direction
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📊 5. MACD Indicator
MACD lines are about to cross bullish (blue over orange)
Histogram is turning green, indicating momentum building upward
BUT no strong confirmation yet without a breakout
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✅ Summary Table:
Indicator What It Shows
Price Sideways (triangle formation)
Volume Low – Accumulation phase
MACD Bullish hint, but not confirmed
Liquidity Zones Present above & below
Trade Bias Neutral – wait for breakout
