Bitcoin's price may be printing a bear div on the 4 hour. We'll have to see how next candles close and re-assess but the lack of volume on that upthrust is concerning for bulls.
What I see is that there is a clear/clean resistance at $6,850 and $6,900 so you can expect many people to have put their stop losses (buy orders then) above those swing highs. Market makers would spot that and I wouldn't be surprised at all if they try to engineer liquidity by pushing price above those swing highs to fill their sell orders (by trapping some late long buyers also) and then dump the price seeing that market needs to breath a little before going higher.
This is just an outcome among others but this is a pattern that I saw many times in 2018, that's why I wouldn't be surprised if that happened again.
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What I see is that there is a clear/clean resistance at $6,850 and $6,900 so you can expect many people to have put their stop losses (buy orders then) above those swing highs. Market makers would spot that and I wouldn't be surprised at all if they try to engineer liquidity by pushing price above those swing highs to fill their sell orders (by trapping some late long buyers also) and then dump the price seeing that market needs to breath a little before going higher.
This is just an outcome among others but this is a pattern that I saw many times in 2018, that's why I wouldn't be surprised if that happened again.
If you like my work and want to show your support, please LIKE/FOLLOW. This helps me to know what kind of content you enjoy !
Don't forget to follow me on
Telegram
Youtube
Medium
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It looks like market makers pushed price up, triggered some stops around 6800. This can actually go a little higher. Let's see
