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kaiju_crypto
Apr 1, 2024 6:18 AM

BTC what's next part 2 Long

COINBASE:BTCUSDT60
Bitcoin / TetherCoinbase

Description

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price got rejected at the resistance which is bullish as price can now go lower to get liquidity to prepare to potentially go higher

there's a lot of liquidity around 68k

here's what I see and what are the possibilities

don't follow blindly
have your own T.A
this is educational content

nfa

Trade active

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took some profit, all longs are in profit, closing the higher ones and taking partial on the bigger one

GG for today :) free t.a, free money

Trade closed: target reached

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all partial TP and stop profit hit! here's the next trade
Trend Analysis
Comments
bed87
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Is it going to go back above 70k next?
MyCryptoParadise_Simon
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interpretation of rejection at resistance as bullish due to the potential for gathering liquidity is intriguing
kaiju_crypto
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@MyCryptoParadise_Simon yes indeed as the dump is causing a liquidation of longs, meaning the majority is now short at the tip of the dump , trapping new shorts and since the long liquidity has been taken, above resistance is now full of short SL which will become liquidity for the next leg up, taking the equal high and short SL, and rallying to take the liquidity at 74k that is also full of short SL
prefabsprout
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@kaiju_crypto, yes this is the core of most prolonged pumps i think. just rekting shorts all the way up.
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