Big Long Liquidation peaks from 23K to 17K and then further to 15K.
At the top we have only two large liquidation peaks towards 32.5K and 42K
Finally the small fish are going long massively while the shorts are calm and cautious!!!
Bull trap in preparation before finishing the Bear trap for several reasons:
- Rising interest rates to reduce inflation.
- The Weekly downtrend.
- The large liquidation peaks in the south.
- Elon Musk sold 75% of his Bitcoins in the second quarter of 2022.
- Coinbase Global's third-largest investor, Ark Invest, sold over 1.41 million shares, which were valued at $75 million as of Tuesday morning.
- 140,000 BTC from MTGOX which may see an upcoming release!
I could always be wrong, but I would be bullish with a weekly close above the key resistance area between 31.8K to 32.2K, and then seeing the news, the S&P 500 and the Dollar DXY.
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