Hello, everyone!
Couple of weeks ago I made the same analysis and told that the current upward sloped flat have a lot of liquidity below which can be easily collected, but there was not the strong bearish signal.
On the 4h timeframe BTCUSDT chart of the WhiteBit exchange we can see that the stop-losses of short traders have been hit multiple times. I told you many times that we have to wait for the confirmation of the correction end. We received this signal (bearish divergence with MACD), thus now it’s time to dump. I suppose that traders don’t want to execute short trades anymore because of too many stop losses. I executed short trade at the very top ($24400) and now anticipate the crash to collect all uncollected liquidity. I will be surprised if the market will not do it.
Now the Bitcoin is trying to break down the support trendline 1. In case of success, the next point is the trendline support 2, but I think bought these levels will not hold the price and we will see my anticipated dump.
Good luck!
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