The Final Stop For Liquidity on BTC.CONTEXT 1:
Support Area- $108,000
Resistance Area- $120,000
Supply Zone- $123,300 to $124,000
Demand Zone- $108,500 to $109,700
Psychological Levels- $120,000 and $100,000
CONTEXT 2:
Technical Structure 1- We are currently clearing out liquidity arouond $103k. With bears losing momentum and the bulls beginning to step we have a an opportunity short at hand!
FVG’s:
One bearish Daily and Two bearish 4H FVG located above price. One 1W located just above price with a Daily and a 4H FVG inside.
GOLDEN POCKET:
Currently we are testing a bullish GP just below price with quite a bit of resistance from both bulls and bears.
VWAP and EMA:
On the Daily Timeframe the 9EMA and 20EMA have crossed bearish over the 50EMA. EMA 200 aligns with the lower anchored VWAP created in April that has been rejected once and looking for more price action.
CONTEXT 3:
Volume Insight- Volume profile still suggests lot of liquidity sits at psych level $120,000 waiting to be liquidated. This also aligns with the 0.618 level of the initial move down located around $119,000.
BULLISH SCENARIO 1:
We move down to sweep the $105k area while tapping into a Daily FVG below price and possibly clearing liquidity to $104k before bullish confluences push us into upper liquidity zones. The EMA 200 and the lower Anchored VWAP adds a bullish “brick wall” of confluence to help push price higher.
BEARISH SCENARIO 1:
After clearing liquidity below around $104k we begin the upwards move to clear liquidity sitting at $119,000. With added confluence of 4H FVG and the Golden 0.618 level of the inital move. The sweep of this area may also reach $120k psych level to push us into deeper liquidity zones sitting at $90k
