$BTC just flushed below $58K, but the derivatives tell a more interesting story.
The sell-off looked aggressive, yet Open Interest expanded instead of collapsing. That means new leveraged positions entered during the panicânot everyone was closing trades.
Meanwhile, CVD remains negative, showing that aggressive sellers are still active. The difference is that price managed to bounce despite the selling pressure, suggesting passive buyers have started absorbing supply.
Liquidity is now stacked on both sides, but the nearest clusters sit above current price around $60.2K-$61.5K.
đą Bullish Scenario
âą 1H closes back above $60.2K
âą Targets: $60.8K â $61.5K
âą Invalidation: Lose $58.8K
đŽ Bearish Scenario
âą Rejection below $60K with rising OI
âą Targets: $58K â $57K
âą Invalidation: Strong reclaim above $60.8K
I'm not calling a bottom yet.
I'm watching whether this bounce attracts real buyersâor simply reloads liquidity for another move lower.
#BTC #bitcoin #Marketstructure #OpenInterest #BinanceSquareFamily
The sell-off looked aggressive, yet Open Interest expanded instead of collapsing. That means new leveraged positions entered during the panicânot everyone was closing trades.
Meanwhile, CVD remains negative, showing that aggressive sellers are still active. The difference is that price managed to bounce despite the selling pressure, suggesting passive buyers have started absorbing supply.
Liquidity is now stacked on both sides, but the nearest clusters sit above current price around $60.2K-$61.5K.
đą Bullish Scenario
âą 1H closes back above $60.2K
âą Targets: $60.8K â $61.5K
âą Invalidation: Lose $58.8K
đŽ Bearish Scenario
âą Rejection below $60K with rising OI
âą Targets: $58K â $57K
âą Invalidation: Strong reclaim above $60.8K
I'm not calling a bottom yet.
I'm watching whether this bounce attracts real buyersâor simply reloads liquidity for another move lower.
#BTC #bitcoin #Marketstructure #OpenInterest #BinanceSquareFamily