Looking at the past 9 monthly opens, one thing stands out clearly.
Most of the time, we see a push to the upside at the start of the month, followed by weakness throughout the rest of it.
The only exceptions were November and February, where the previous month already ended with a dump, and the downside simply continued into the new month.
Now May has begun, and we’re once again seeing similar behavior to the broader pattern. Price is already up around 3% on the first day, making a sweep of the equal highs very possible.
This would also clear out the liquidity that has built up above from new shorts entering the market.
However, I don’t believe there’s much upside left, and I still expect this month to close red.
Not only because of this pattern, but also due to the heavy resistance above, combined with the large amount of unswept liquidity resting below.
On top of that, we’re entering a historically weak month.
$ACH Current date and time of pumping: 02-05-2026 18:52 GMT+2 Time Zone
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🔼Recently, Bitcoin’s correlation to U.S. equities is rising back toward levels last seen in 2023, suggesting a renewed coupling with broader risk markets.
That level is not only the most crucial support right now, but also has large amounts of liquidity sitting there.
Price tends to get drawn to levels like this because that’s where liquidity is concentrated, providing the fuel needed for larger players to execute their trades.
It should only be a matter of time before this level gets tested.
The price of INJ is consolidating within the 4-hour OB zone between $3.20 and $3.29. If the price holds this zone, an upward move will begin with the aim of returning to the key level of $4.