Bitcoin Liquidity Sweep, Bearish Momentum, and Critical Support
An analysis of Bitcoin (BTC) indicates a liquidity sweep, bearish momentum, and highlights a critical support zone, providing insights for market participants.
Key Observations:
Liquidity Sweep: Bitcoin made a sweep of liquidity of the previous Higher High and range below the Resistance.
Sharp Down Move: Following the liquidity sweep, the price experienced a sharp down move, aligning with expectations.
Major Support Zone: BTC swiftly moved into the Major Support Zone of $40,800 - $42,000 and below it.
Bearish Momentum: The momentum is turning bearish, with the potential for a bearish Market Structure.
Critical Support Zone: Daily closing below $43,300 is highlighted as a critical level that could contribute to a bearish outlook.
Key Observations:
Liquidity Sweep: Bitcoin made a sweep of liquidity of the previous Higher High and range below the Resistance.
Sharp Down Move: Following the liquidity sweep, the price experienced a sharp down move, aligning with expectations.
Major Support Zone: BTC swiftly moved into the Major Support Zone of $40,800 - $42,000 and below it.
Bearish Momentum: The momentum is turning bearish, with the potential for a bearish Market Structure.
Critical Support Zone: Daily closing below $43,300 is highlighted as a critical level that could contribute to a bearish outlook.
