This move looks so corrective to me. Price action is actually fairly simple to dissect. Bitcoin spends most of its time correcting, and a very small amount of time actually making moves, or impulsing. In a downtrend, you get long periods of corrective PA that chops higher in bear flags, followed by very aggressive impulses lower. The bear flags take out upside short liquidity, and then they drop very fast, not allowing anyone time to get positioned, and not leaving behind any liquidity. In an uptrend, the same works just in reverse. You can see very clearly how this works by how i have highlighted it on the chart. The recent PA we have had looks nothing like the PA from the bear cycle. It is not flagging, nor is it impulsing. This current move looks fully corrective to me. Slow and choppy downwards PA, leaving behind tons of equal highs and bucket loads of liquidity. This is controlled downwards price action that doesn't have momentum. It looks forced. There is too much upside liquidity build up for it not to be aggressively swiped through, in my opinion. What do you see?
Sykodelic 🔪Share

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