Prediction evidence

Ki

Killa

@KillaXBT

$BTC We have 11 days until the 3 month and 6 month candle close. At the moment, the 3 month candle doesn't look great. That said, I think it's entirely possible for $BTC to retest the 68.3K region in the near term. My view remains that any sweep below the previous weekly low is likely to be bought aggressively and reclaimed quickly. The main question I ask myself in these situations is: where is the liquidity? Is it sitting above, or below? Looking at the 3 month structure, we can see that longs were effectively baited above 80K before price retraced back to the range lows, sweeping liquidity and forcing a large number of those positions out. From that perspective, a significant portion of long side exposure has already been cleared. Because of that, I think the more vulnerable side now may be shorts. If that's the case, a move higher to target upside liquidity during the next quarter wouldn't be surprising before any larger move lower develops, assuming we even see lower prices at all. Either way, I still view any sweep below 60K as a INSANE buying opportunity. At the same time, a retest higher before that happens would not surprise me.