Refer to my other chart (BTC Post the Liquidation Apocalypse) regarding bigger picture on HTF and where I see BTC going. This is where we saw the bear cartel lose their footing on the slippery slope of shorting against the trend.
This particular chart zooms into the LTF aspect (hourly) and expands on the principle of ones eye being drawn to untaken liquidity - marked by X. This way of trading - order flow, liquidity pools - has served me well in reading the market.
This is a game of cat and mouse for good wick catchers, scalping the small BTC moves as we range.
Still, you will always have the moonboys yelling "bull trap!", "bear trap!" for each little move up and down. But when one zooms in and pays closer attention - it's pretty clear we are in chop mode with liquidity being engineered and taken for those high leverage traders looking for a quick buck on bitmex.
Call the rektbulance! Let the chop continue. Keep sweeping those x's.
This particular chart zooms into the LTF aspect (hourly) and expands on the principle of ones eye being drawn to untaken liquidity - marked by X. This way of trading - order flow, liquidity pools - has served me well in reading the market.
This is a game of cat and mouse for good wick catchers, scalping the small BTC moves as we range.
Still, you will always have the moonboys yelling "bull trap!", "bear trap!" for each little move up and down. But when one zooms in and pays closer attention - it's pretty clear we are in chop mode with liquidity being engineered and taken for those high leverage traders looking for a quick buck on bitmex.
Call the rektbulance! Let the chop continue. Keep sweeping those x's.
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