Bitcoin is dropping again and has now entered its first Fair Value Gap (FVG). Will the price stop and bounce from this level? It seems unlikely. This is because there are still significant liquidity pools and the Monthly Sell-Side Liquidity (SSL) resting below it. Moreover, even if the price does bounce, we require confirmation on a Lower Time Frame (LTF) via a Market Structure Shift (MSS) or displacement. Remember the principle of liquidity: price moves from External Range Liquidity (ERL) to Internal Range Liquidity (IRL) or vice versa.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.