Bitcoin – liquidity collection will cause the dump!

Hello, everyone!

The target from the previous article has been reached and I think that Bitcoin will not grow above the current price. The upside correction has been finished and now it’s time to see the new deep dive.

Let’s take a look at the 4h timeframe of the BTCUSDT chart of the WhiteBit exchange. I made a mistake with the short entry point at $17300 because I supposed that wave C have been finished there, but wave is extended and I decided to not close the short trade, I told about it yesterday in short update. Now I consider the reversal point, may be we will see one more local pump but it will lead to more severe crash.

$18200 was the magnet zone because of liquidity of short traders. Now there are no any significant liquidity above, but we have a ton of liquidity below, I suppose the next impulsive bearish wave will collect this liquidity next couple of months.

Best regards, Ivan