Bitcoin is experiencing significant trading activity as algorithms target stops within a falling wedge pattern. Liquidity is being harvested around the $65,000 mark, causing weaker investors to exit their positions. Meanwhile, short positions are clustering above, with institutions waiting for a potential breakout. This movement is seen as a strategic position reset.
The current trading plan involves a flush to absorb supply, building a base within the range, and a breakout that could trigger long positions, with an extension target of $130,000. However, the risk remains high; if Bitcoin falls below $65,000 again, the setup could become invalid. Traders emphasize patience and mechanical trading over emotional reactions.
Bitcoin Faces Critical Levels as Algorithms Target Stops
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