btc headed lower 35k first stop

KUCOIN:BTCUSDT   Bitcoin / Tether
here we are looking at the 1d chart of btc
starting from 1m down we have a swing high of november formed with the dec high respecting the nov body with an perfect 50 % rejection of the body.
now curently jan high testing the balance created on aug- sep while at the time of this writting it is holding strong for the shorts liquidity is being formed on the 40k price tag as well with many retail buyers putting sl under these daily or hourly wicks.
since the top is in the monthly target will be 35088
dropping down to the weekly we can see lots of liquidity that was built up during may- july around the price of 33-31k seller will want to break through the old swing low of sep 27 at 40752.
with that move being set we could see some order pairing and exit liquidity form which would cause a nice bounce that will give large funds to finish adding and re entering sell positions
the 1w showing its balance (true value) at 31.8 as well.
next is the 3d
the 3d we can see even more liquidity at the 40k price tag with a nice area of liquidity resting under 38k to 37.4k from jul 30 to aug 5th
the 3d u can see orders being stacked from dec 30- jan 4th with the clean wicks all respecting the 71 range o wick high to open but also forming liquidity above as well for later targets to be taken out
i dont think price will climb back up to this area no time soon as we have dec 5 high at 45902 which is very close to the open. a move back up to these areas would allow smart money to enter a last position to target the sub 40k areas.
lastly the daily
the daily shows even more seller stacking orders since jan 2-5 we can see this by the formation of the wicks and how clean and precise they are in respect tp the wick to body zone
as it stands btc hasnt broke under 40k just yet this tells me that smart money is waiting for enough orders to be set and more market particiapants to come in so they can sell to the dumb money buyers for easy ordering pairing/ exit liquidity. the longer btc stays above the more hope will enter the market with more hope more new positions will flood the market and less risk management will come in also. many traders will believe that 40k is some type of support and place sl under leaving an easy large target of liquidty under.
all in all im short until atleast 35k possibly 20k this does not mean btc cant bounce in the mean time but any bounces from this point cant be sustained untill 35k is hit so every bounce will be a fake out to allow smart money to add more short positions


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